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September 5, 2018

Construction spending rose slightly in July

  • Homebuilding and public projects were the strongest sectors.
    AP Economics Writer

    WASHINGTON — Spending on U.S. construction projects ticked up 0.1 percent in July, led by an increase in homebuilding and the publicly funded building of schools and highways.

    The Commerce Department said Tuesday that the slight July increase brought total construction spending to a seasonally adjusted annual rate of $1.32 trillion, 5.8 percent higher than a year ago.

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