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Post by bot on Jul 2, 2013 1:34:10 GMT -5
Construction spending rises 0.5% in May WASHINGTON (MarketWatch) -- Construction spending rose 0.5% in May to a seasonally adjusted annual rate of $874.9 billion, the U.S. Department of Commerce said Monday. Economists polled by MarketWatch had expected May's rate to rise 0.8%. Nonresidential construction spending, which includes projects such as health-care facilities, rose 0.1%, while residential construction spending increased 1.2%. April's overall construction spending growth was revised to 0.1% from a prior estimate of 0.4%. Construction spending in May was 5.4% higher than the same period in 2012.
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