Construction spending posts modest 0.2% gain in April

WASHINGTON (AP) — U.S. construction spending rose a modest 0.2% in April as strength in housing offset further weakness in nonresidential construction.

The April increase followed a much stronger 1% gain in March which was revised up from an initial estimate of a slight 0.2% advance. The April increase pushed construction to a seasonally adjusted annual rate of $1.52 trillion in April, 9.8% higher than a year ago, the Commerce Department reported Tuesday.

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