Spending on U.S. construction projects unexpectedly dropped in November, restrained by declines in non-residential building and public works. Outlays fell 0.3 percent to $866 billion annual rate after increasing a less-than-previously estimated 0.7 percent in October, the Commerce Department reported today in Washington. The median forecast of 41 economists surveyed by Bloomberg called for a 0.6 percent increase. Housing climbed to the highest level in more than four years. The residential real-estate market will probably continue to drive spending as record-low mortgage rates, an increasing population and dwindling ... (full story)