[clari.biz.economy] Construction spending down 0.6 percent in December

clarinews@clarinet.com (02/01/90)

	WASHINGTON (UPI) -- Construction spending decreased 0.6 percent in
December to $414.6 billion, the lowest monthly rate since a 1 percent
decrease in June, the Commerce Department said Thursday.
	December's construction spending followed a 0.7 percent increase in
November to $417.3 billion, the department said.
	The figures were seasonally adjusted to account for such factors as
the dip in construction activity associated with winter weather.
	The value of new construction in 1989 increased to $414.7 billion,
compared with $409.7 billion in 1988, an increase of 1.2 percent and the
lowest since a 5.1 percent decrease in 1982, the department said.
	Spending on new homes was $134.9 billion in December, 6 percent
below December 1988, while non-residential construction was $96.7
billion, 4 percent below November's $101.1 billion, it said.
	For 1989, new private construction was $330.7 billion, compared
with $328.7 billion the year before, an increase of 0.6 percent, the
department said. Non-residential building construction for 1989 was
$99.4 billion, an increase of 2 percent over $97.1 billion in 1988.
	December public construction was $91.1 billion, 3 percent above
November's $88.5 billion, it said. For the year, public construction
spending was $84 billion, four percent above $80.9 billion in 1988.