Construction spending drops sharply in December
In this photo made Jan. 21, 2010, workers are seen on a house being enlarged and remodeled in Washington Township, NJ Construction spending dropped sharply in December to its lowest level in more than six years as new home building fell by the steepest amount in seven months, evidence that housing remains a weak spot in the economy.
Construction spending rose for the second time in three months in June as residential building increased, the latest indication that the housing sector might be recovering.