Construction Spending Rises More Than Forecast on U.S. Housing
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Spending on U.S. construction projects climbed more than forecast in December, showing the housing industry is sustaining gains that may lift the economy.
Outlays rose 0.9 percent to a $885 billion annual rate, the highest level since August 2009, after increasing a revised 0.1 percent in November, the Commerce Department reported today in Washington. The median forecast of 47 economists surveyed by Bloomberg called for a 0.7 percent increase.