Construction Spending Up Strong 1.1% in May
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Associated Press
WASHINGTON — Construction spending climbed 1.1% in May as continued strength in non-residential construction offset declines in housing and government building projects, the Commerce Department reported today.
The department said that building activity rose to a seasonally adjusted annual rate of $407.1 billion in May following a 0.2% dip in April. In March, construction shot up 2.8%.
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