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Commerce Dept: Construction Spending Tapered Off As Year Ended

Commerce Dept: Construction Spending Tapered Off As Year Ended "The Department of Commerce. "

Despite an expectation it would increase, construction spending in December fell as public and private investments each dropped. So reports CNBC.

According to information from the Commerce Department, construction spending dipped 0.6% in December. Year-over-year, December's numbers were 1.6% higher.

For the year, spending was up 4.1%. The figures may have an impact on the recently published fourth quarters GDP estimate.

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