Construction spending in U.S. fell 0.6 percent in November

Construction spending in the U.S. fell for the seventh straight month in November [2009]to the lowest level in more than six years, led by declines in home building and fewer commercial projects.

The 0.6 percent drop followed a revised 0.5 percent decrease in October, previously reported as unchanged, Commerce Department figures showed today [Jan. 4] in Washington. Construction spending was down 13 percent in November from the same month a year earlier, according to a Jan. 4 Bloomberg report.

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