Construction Spending Rises in August

Washington, DC, Oct. 22, 2013 -- Construction spending rose 0.6% in August, the Commerce Department reported Tuesday.

Economists had expected a 0.5% increase.

Spending in July was revised to a 1.4% gain from the initial estimate of a 0.6% rise.

In August, spending on residential construction rose 1.2% while nonresidential construction increased 0.1%.

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