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October 4, 2016

Construction spending down again in August

  • Economists believe that the slowdown is temporary, thanks to ultra-low interest rates and a growing economy.

    • WASHINGTON (AP) — U.S. builders trimmed spending on construction projects in August for a second straight month with housing, non-residential and government activity all seeing declines.

    Construction spending dropped 0.7 percent in August after a 0.3 percent slip in July, the Commerce Department reported Monday. It was the third decline in the past five months.


     
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