Construction Spending in U.S. Climbs to More Than Two-Year High
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Construction spending in the U.S. increased in May to the highest level in more than two years, held up by improvement in the housing market.
The 0.9 percent climb followed a 0.6 percent increase in April that was bigger than previously estimated, Commerce Department figures showed today in Washington. The median estimate of economists surveyed by Bloomberg News called for a 0.2 percent increase. The value of all projects rose to $830 billion at an annual rate, the most since December 2009.