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Will renovation spending offset drop in construction spending?

from Housing Wire

After the biggest drop in construction spending since January 2011, contractors may find some relief in the finding that 67 percent of consumers plan home renovations within the next six months, according to the latest home improvement survey. Construction spending in June came in at a seasonally adjusted annual rate of $950.2 billion, down 1.8 percent from the revised May estimate of $967.8 billion. more

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