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The U.S. Commerce Department released construction spending data on Monday. Construction spending in the U.S. rose 0.6% in September, exceeding expectations for a 0.5% gain, after a 0.7% increase in August.
The increase was mainly driven by a rise in private residential construction. Spending on private residential construction climbed 1.9% in September.
Spending on private non-residential construction projects decreased 0.1% in September, while public construction spending increased 0.7%.
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