Construction spending in US up by 1% in December led by housing

Construction spending in the United States witnessed an increase of 1 percent in December as the number of new homes offset a sustained weakness in nonresidential construction. The increase comes on the heels of a 1.1% gain in November, and the previous month’s strength comes from a 3.1% increase in spending on residential projects with money going to single-family homes surging by 5.8%.