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US construction spending jumps to near 6-and-a-half year high

from Reuters

U.S. construction spending surged in April to the highest level in nearly 6-1/2 years as outlays increased broadly, pointing to some pockets of strength in the economy. Construction spending jumped 2.2 percent to an annual rate of $1.0 trillion, the highest level since November 2008, the Commerce Department said recently. The percent increase was the largest since May 2012. more

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