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Breaking Flooring News

Construction spending rises unexpectedly

WASHINGTON -- Spending on U.S. construction projects rose unexpectedly in December, the U.S. Commerce Department reported, led by gains in single-family home and office building.

Construction spending rose 0.6% in December to an annual rate of $811.5 billion after posting a 0.2% increase in November, the Commerce Department said. The number was in sharp contrast with expectations from analysts who had estimated the department's report would show a 0.4% drop in construction spending in December.

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