The Commerce Department announced on Monday that construction spending fell 0.2 percent m-o-m in December after a revised 0.7 percent m-o-m gain in November (originally a 0.6 percent m-o-m advance). That was the first monthly drop in construction spending since June.

Economists had forecast construction spending increasing 0.5 percent m-o-m in December.

According to the report, spending on private construction edged down 0.1 percent m-o-m, while investment in public construction dropped 0.4 percent m-o-m.

For the full 2019, construction spending declined 0.3 percent, recording the first decrease since 2011.