US construction sector outlays slip in December, public sector drags

Total outlays on construction in the States slipped unexpectedly in December 2016, weighed down by a sharp fall in public sector spending.

Overall, construction spending was down by 0.2% month-on-month to reach $1.134trn, the Commerce Department said.

Public sector outlays dropped by 1.7% over the month to $289.6bn, with the biggest drag coming from construction on education, which declined 2.2% on the month to $69.1bn.

Construction spending by the private sector on the other hand edged higher by 0.2% when compared to November's tally, to $844.1bn.