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The U.S. Commerce Department released construction spending data on Friday. Construction spending in the U.S. declined 0.6% in March, missing expectations for a 0.5% gain, after a flat reading in February.
February's figure was revised up from a 0.1% decrease.
A 0.3% decline in spending on private construction weighed on construction spending.
Spending on residential construction dropped 1.6% in March, while spending on non-residential construction rose 1.0%.
Spending on federal government projects plunged 4.9%in March.
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