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U.S. construction spending falls, Q4 GDP seen revised lower

Staff Writer |
U.S. construction spending unexpectedly fell in December as investment in both private and public projects dropped.

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The report from the Commerce Department was further evidence the economy lost momentum at the tail end of 2018.

The construction spending report extended the run of weak December economic data, that has included retail sales, housing starts, trade and home sales.

Construction spending declined 0.6 percent after an unrevised 0.8 percent increase in November.

It rose 4.1 percent in 2018, the weakest reading since 2011. The release of the December report was delayed by a five-week partial shutdown of the government that ended on Jan. 25.

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