Construction Spending Up 1%
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Associated Press
WASHINGTON — New construction spending rose about 1% in April to an annual rate of $325.7 billion, the Commerce Department said today.
Spending had been essentially flat from February to March after a 2% jump from January to February. The bulk of the April increase was attributed to private, nonresidential building, which was up 4% from March to an annual rate of $88.6 billion compared to $85.2 billion the previous month.
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