With an increase in spending on private construction more than offsetting a dip in spending on public construction, the Commerce Department released a report on Thursday showing U.S. construction spending rose by more than expected in the month of March.
The Commerce Department said construction spending climbed by 0.6 percent to an annual rate of $2.185 trillion in March after slipping by 0.2 percent to an annual rate of $2.173 trillion in February. Economists had expected construction spending to rise by 0.4 percent.
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