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Construction Spending Rolls Over In December, Likely One-Off

Construction Spending Rolls Over In December, Likely One-Off

U.S. construction spending month over month in December fell by 0.6% unexpectedly; the estimate was for a gain of 0.2%.

The aberration was likely a result of the government shutdown in December. Uncertainty is always bad for markets and this number shows that in real time.

Markets fell hard on the news.

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