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Residential Construction Spending Slips as Remodeling Activity Weakens
Private residential construction spending declined 0.3% in June, while substantial downward revisions to improvement (remodeling) spending significantly altered the sector’s recent trajectory. According to the latest construction spending data from the U.S. Census Bureau, private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $877.1 billion in June, down 0.3% from the…
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