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October 3, 2017

Construction spending rebounds in August

  • Home building, commercial and government construction led the way.
    AP Economics Writer

    WASHINGTON — U.S. construction spending rebounded 0.5 percent in August after two months of contraction, helped by strength in home building, and commercial and government construction.

    The climb came after declines of 1.2 percent in July and 0.8 percent in June, the Commerce Department reported Monday. It was the best showing since a 1.6 percent rise in May. Still, the August gain was not enough to recoup the losses of the past two months, leaving spending 1.5 percent below the May level.

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