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U.S. Construction Spending Jumps Much More Than Expected In October

Construction spending in the U.S. jumped by much more than anticipated in the month of October, the Commerce Department revealed in a report on Friday.

The report said construction spending surged up by 1.4 percent to an annual rate of $1.242 trillion in October after rising by 0.3 percent to a revised $1.225 trillion in September. Economists had expected spending to climb by 0.5 percent.

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