Construction Spending Continues To Climb In August

Construction spending continued its brisk pace in August, rising 0.7% during the month and gaining 13.7% over 12 months, the Commerce Department reported Thursday. Economists polled by MarketWatch expected a 0.6% gain. Residential construction rose 1.3%, while nonresidential construction grew 0.3%. Construction of lodging climbed 2.8% and has climbed 41.4% over 12 months.

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