Construction Spending Falls in August
Washington, DC, Oct. 1, 2012 -- Construction spending fell for the second month in August, the Commerce Department said.
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Spending fell 0.6% in August, below expectations of a 0.5% gain.
However, the July decline was revised up to a 0.4% decline from the initial estimate of a 0.9% drop.
In August, spending on private construction fell 0.5% while home building recorded a 0.9% gain.