April 1, 2013
WASHINGTON ? Spending on U.S. construction projects rebounded in February, helped by a surge in home construction, which rose to the highest level in more than four years.
Construction spending rose 1.2 percent overall in February compared to January, when construction had dropped 2.1 percent, the Commerce Department reported Monday.
Spending rose to a seasonally adjusted annual rate of $885.1 billion, which was 7.9 percent higher than a year ago.
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