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Construction Spending Rises Less Than Expected
Monday, February 1, 2016
Construction spending scrambled back into positive territory
by a tiny bit in December, gaining 0.1 percent from November's level to an
estimated seasonally adjusted annual rate of $1,116.6 billion. The gain came even as the November estimate
was revised down even further from a 0.4 percent loss to a negative 0.6 percent
at $1.116.0 billion. The December figure
was still well above the spending pace in December 2014 of $1,031.6 billion, an
increase of 8.2 percent.
The December numbers, released Monday by the U.S. Census
Bureau, were significantly lower than analysts had predicted, a range,
according to Econoday and Bloomberg of 0.3 percent to 1.3 percent
with a consensus of 0.6 percent.
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