Report: New construction takes hit in 2010
WASHINGTON (AP) Febuary 2, 2011 The Commerce Department says construction spending dropped 10.3
percent last year, marking the fifth annual decline. The slide
began when the housing bubble burst after 2006.
Construction spending fell to $814.18 billion for the year, the
lowest level since 2000.
And the year ended on a weak note. Builders started fewer homes
and other projects in December, pushing activity down 2.5 percent
for the month.
