US construction spending up 1.8% in January to record level
from The Associated Press via KCTV-TV
Spending on U.S. construction projects rose to an all-time high in January, helped by strong gains for home construction and government building projects. The Commerce Department reported that construction spending increased 1.8% in January, the strongest monthly rise in nearly two years, pushing totally spending to a record seasonally adjusted annual rate of $1.37 trillion. Spending on home construction jumped 2.1%, the strongest gain since August. The strength came from single-family home construction, which rose 2.7%.
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