MW: U.S. construction spending down 0.6% in November
Outlays for construction projects in the United States fell by a seasonally adjusted annual rate of 0.6% in November after an upwardly revised drop of 0.4% in October, the Commerce Department reported Monday. Spending on residential projects fell 4.1%, while spending on private-sector nonresidential construction rose 0.7%. Total outlays are down 3.3% in the past year. Private residential construction, which fell 4.2%, reached the lowest level since August 1999.