U.S. construction spending declines in August


Reuters: Construction spending dropped 0.8% to an annual rate of $960.96 billion.

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Reuters: Construction spending dropped 0.8% to an annual rate of $960.96 billion.

Economists polled by Reuters had forecast construction spending increasing 0.5 percent in August.

The surprise decline was largely due to a 1.4 percent drop in money spent on private nonresidential construction, although outlays fell across the board with state and local construction

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