After reporting a notable drop in U.S. construction spending in the previous month, the Commerce Department released a report on Monday showing that construction spending rebounded by slightly more than expected in February.
The report said construction spending rose 1.2 percent to a seasonally adjusted annual rate of $885.1 billion in February from the revised January estimate of $874.8 billion. Economists had expected spending to increase by about 1.1 percent.
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