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re: us construction data out 10:00am 12/01/03
U.S. Oct. construction spending rises 0.9% By Rex Nutting
WASHINGTON (CBS.MW) - Led by outlays for homes and public projects, spending on U.S. construction projects increased 0.9 percent in October after an unrevised 1.3 percent gain in September, the Commerce Department estimated Monday. Economists expected a gain of 0.7 percent.Outlays are up 7 percent in the past year. Most of the gains in October came from residential projects, with spending up 2.2 percent. Spending on nonresidential projects fell 2.1 percent in October, the largest decline since December. Spending dropped 6.7 percent for factories and 2.5 percent for commercial space. Spending on offices rose 0.6 percent. Meanwhile, government spending on construction projects rose 1.2 percent in October.