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February 2, 2012

Factory buildings lift construction in December

  • Overall construction spending was up 1.5 percent for the month; nonresidential construction jumped 3.3 percent.

    • WASHINGTON (AP) — Builders increased their spending in December for the fifth consecutive month, ending a weak construction year on a hopeful note.

    Spending on construction projects rose 1.5 percent in December after a revised 0.4 percent gain in November, the Commerce Department said Wednesday. That pushed spending to a seasonally adjusted annual rate of $816.4 billion, the highest level in 20 months.


     
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