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January 6, 2009

Construction slows less than expected

WASHINGTON (AP) — Construction spending fell less than expected in November as record activity on nonresidential projects helped offset another steep decline in housing.

The Commerce Department says construction spending dropped by 0.6 percent in November, less than half of the 1.3 percent decline economists expected. A 4.2 percent fall in housing construction was partially offset by a surprisingly strong 0.7 percent rise in nonresidential activity.


 
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