02.10.2012 - US builders increase spending on homes, cut commercial real estate and govít projects
U.S. builders spent more to construct homes in August, further evidence of a housing rebound. Still, the increase couldnít offset cuts in public projects and commercial real estate. Overall construction spending dipped 0.7 percent in August from July, the Commerce Department reported Monday. It was the second straight monthly decline. The decline lowered construction spending to a seasonally adjusted annual rate of $834.4 billion. Thatís nearly 12 percent above a 12-year low hit in February 2011 and roughly half of whatís considered healthy...............................................Full Article: Source
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