Construction spending up in year through March, down in month

05/2/2013 | Reuters · MarketWatch · Bloomberg

In March, construction spending dipped 1.7%, hitting a seven-month low, according to the Commerce Department. Economists had expected an increase. Expenditures on public construction fell 4.1%, while those on private construction slipped 0.6%. However, between March 2012 and March 2013, spending on construction was up 4.7% before considering seasonal factors.

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