Construction spending retreats 0.6% in December

The U.S. Census Bureau announced that construction spending during December 2018 was estimated at a seasonally adjusted annual rate of $1.29 trillion, retreating 0.6% from the revised November estimate of $1.3 trillion. Notably, spending on private construction was at a seasonally adjusted annual rate of $991.2 billion, 0.6% below the revised November estimate of $997.1 billion.