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US construction spending falls 0.4 percent in November

from ABC News

U.S. construction spending fell in November for the first time in 17 months, reflecting weakness in spending on hotel and other private nonresidential construction and government projects. Construction spending dipped 0.4 percent in November following a 0.3 percent increase in October, the Commerce Department reported Monday. It was the first decline in activity since a 0.7 percent dip in June 2014. Home construction increased 0.3 percent but nonresidential construction was down 0.7 percent, reflecting declines in a variety of categories including hotels, shopping centers and manufacturing plants. more

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