Construction Spending Rises in February
Washington, DC, April 1, 2013 -- Construction spending rose in February, due mostly to the highest level of home building in more than four years, according to the Commerce Department.
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Spending rose 1.2% to an $885.1 billion annual rate, following a 2.1% decrease in January.
Economists called for a 1% rise.
Construction spending increased 6.6% in the year ended in February.
Private spending rose 1.3% from January.