WASHINGTON — U.S. construction spending rose a moderate 1% in December as the number of new homes offset a sustained weakness in nonresidential construction.
The increase followed a 1.1% gain in November, the Commerce Department reported Monday. Last month’s strength came from a 3.1% jump in spending on residential projects with money going to single-family homes surging by 5.8%.
While home construction is gaining, there was a 1.7% decline in nonresidential construction, which had declines in hotel and motel construction and in the category that includes shopping centers.
Spending on government projects which had been hit by falling tax revenues rose 0.5% in December.
In an era of extraordinarily
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