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The U.S. Commerce Department released construction spending data on Monday. Construction spending in the U.S. rose 2.2% in April, exceeding expectations for a 0.8% gain, after a 0.5% increase in March. It was the highest rise since May 2012.
March's figure was revised up from a 0.6% decrease.
The rise was driven by an increase in private and public construction. Private construction spending gained 1.8% in April. It was the highest level since October 2008.
Public construction spending jumped 3.3% due to higher spending on state and local government projects.
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