Off Only 0.3%
After five months of gains, construction outlays slipped 0.2% during December, which dropped the year's total to 0.3% below last year's amount. But the residential sector grew 1.4% in December, and is up 15.0% on a three-month annualized basis, with nearly all of the gain credited to spending on single-family residences, aided by a monthly increase of 2.7%.
Conversely, the multifamily sector dropped 1.8% for the month, which marks its fifth consecutive decline.