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U.S. Construction Spending Unexpectedly Edges Down 0.1% In May

Reflecting a decrease in spending on public construction, the Commerce Department released a report on Friday showing an unexpected dip in U.S. construction spending in the month of May. The report showed construction spending edged down by 0.1 percent to an annual rate of $1.780 trillion in May after climbing by 0.8 percent to an upwardly revised rate of $1.783 trillion in April.
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