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August 4, 2015

Construction spending rose slightly in June

  • A big drop in nonresidential building offset a third straight increase in home building.
  • By MARTIN CRUTSINGER
    AP Economics Writer

    WASHINGTON — U.S. construction spending increased in June by the smallest amount in five months as a big drop in nonresidential building activity offset a third straight increase in home building.

    Construction spending edged up a slight 0.1 percent in June following a 1.8 percent increase in May and a 3.8 percent rise in April, the Commerce Department said Monday. Even with the June slowdown, construction spending advanced to a seasonally adjusted annual rate of $1.06 trillion, the best pace in seven years.


     
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