Construction spending slips 0.3% in November

WASHINGTON (AP) — A sharp slowdown in government-built schools and infrastructure caused U.S. construction spending to fall slightly in November.

The Commerce Department says construction spending slipped 0.3% in November, after having climbed 1.2% in October.

Much of the decline came from a 1.7% retreat in government expenditures. Publicly-built school spending fell 2.5%, while the transportation, health care and public safety sectors also fell.

Private construction spending rose a modest 0.3% in November. Home-building climbed 1% in November, offsetting the declines in the office, commercial and health care-related construction.

Total construction spending has jumped 2.4% from a year ago to $974.9 billion.