Construction Spending in U.S. Unexpectedly Fell in January
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Construction spending in the U.S. unexpectedly fell in January as commercial and government projects slowed, a sign the building industry will take time to rebound.
The 0.1 percent drop, the first decline since July, followed a revised 1.4 percent gain in December that was lower than previously estimated, Commerce Department figures showed today in Washington. The median estimate of economists surveyed by Bloomberg News called for a 1 percent increase.