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US Construction Spending up 0.8 Percent in October
U.S. developers boosted construction spending in October at the fastest pace in more than four years, propelled by a surge in government buildings. The increase suggests the 16-day partial government shutdown didn't slow public projects. The Commerce Department says construction spending increased 0.8 percent in October to a seasonally adjusted annual rate of $908.4 billion. That's up from September, when spending fell 0.3 percent. The October pace was the best since May 2009. Spending has increased 5.3 percent in the 12 months ending in October. A 3.9 percent surge in public buildings drove the October increase. But ... (full story)