Construction spending was 7.9% higher in February than it was a year earlier and was up 1.2% from January, according to a report by the Associated General Contractors of America. "There is little doubt that construction of new houses and apartments will continue to boom in the next several months," said Ken Simonson, AGC's chief economist. "On the nonresidential side, there should be a lot of activity involving pipelines, manufacturing, railroads and trucking, and warehouses."

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