Construction Spending Picks Up at Year's End

Washington, DC, Feb. 1, 2013 --  Construction spending increased at the end of 2012, rising 0.9% to an annualized rate of $885 billion, according to the Commerce Department.

For the year, spending grew 9.2% as residential construction increased 22.3%.

Commercial construction grew 1.2% in 2012.

                                                                                                                                                                                                                                                                                                                                                         
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