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Construction spending up in July signals tentative recovery
Construction spending rose 0.4 percent in July to a $442.2 billion annual rate, marking the first gain in four months. Residential outlays fell, while nonresidential and government work rose, with industrial projects up 9.3 percent. Analysts warn the sector remains weak into year end amid high rates and cautious demand.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Iraq
David Seiders
National Association of Home Builders
Department
Labor Department
Seiders