Construction spending rises 2.7 percent in April

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Construction spending rose 2.7 percent in April compared with March to a seasonally adjusted annual rate of $869 billion, according to a report released yesterday by the U.S. Census Bureau of the Dept. of Commerce. The April figure is 10.5 percent less than the April 2009 estimate of $971 billion.

Residential construction spending rose 4.4 percent to a seasonally adjusted annual rate of $263 billion in April compared with March; spending on private construction rose 2.9 percent to a seasonally adjusted annual rate of $565.8 billion; and nonresidential construction rose 1.7 percent to a seasonally adjusted annual rate of $302.7 billion.

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