Construction Spending Up 0.1% in August After Revised Flat Reading in July

Outlays for U.S. construction projects rose 0.1% in August at a seasonally adjusted annual rate of $1.29 trillion, the Commerce Department reported Tuesday. Economists polled by MarketWatch had expected a 0.4% gain. Activity has been weak but economists think housing may pick up as interest rates fall. Spending in July was revised down slightly to a flat reading from the prior estimate of a 0.1% gain. Residential construction rose 0.9% in August. Spending on public construction projects rose 0.4% in the month.

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