P.M. BRIEFING : Construction Spending Up 2.6%
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WASHINGTON — Construction spending rose 2.6% in February, the government said today, as unusually warm weather continued across much of the nation.
The Commerce Department said residential, non-residential and government construction spending totaled a seasonally adjusted annual rate of $436.5 billion.
That compared with a revised 2.5% gain the previous month, the warmest January on record. January spending was first reported last month to have rise 1.8%.
Spending in December, the fourth-coldest since the government began keeping records 96 years ago, had slipped 0.3%.
The total construction spending figure was up 4.8% from the level of building a year ago.
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