Spending on U.S. construction projects unexpectedly rose in June, led by an improvement in residential real estate and gains in government projects.The 0.3 percent increase to $965.7 billion followed a revised 0.8 percent drop the prior month, according to data from the Commerce Department today in Washington. Private residential projects rose for the second time in three months and spending by the Federal government increased by the most this year.
By Bob Willis, August 3, 2009, Bloomberg

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