January 02, 2013 at 12:07 PM EST
Construction Dips, But Stocks Of Builders Rise
Construction spending took an unexpected drop in November, its first decline in eight months. Despite the weak report, building stocks rose along with the overall market following passage of a fiscal cliff deal. The Commerce Department said spending in the construction sector slid 3% compared to the same month a year earlier, to an annual rate of $866 billion. Analysts were expecting a 0.6% rise. Among top homebuilders in the
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