U.S. construction spending unexpectedly fell in December as investment in both private and public projects dropped, further evidence the economy lost momentum at the tail end of 2018.
The Commerce Department said on Monday that construction spending declined 0.6 percent after an unrevised 0.8 percent increase in November.
Economists polled by Reuters had forecast construction spending rising 0.2 percent in December. The report extended the run of weak economic December data, that has included retail sales, housing starts, trade and home sales.
