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WASHINGTON, Nov. 1 (Xinhua) -- U.S. construction spending rosein September due to increased government outlays, the CommerceDepartment said Wednesday.
Construction spending increased 0.3 percent to 1.22 trillionU.S. dollars. The growth rate in August was revised down to 0.1percent from the previously reported 0.5 percent.
The September gain was led by public-sector spending, whichjumped 2.6 percent. Investment on private construction projectsfell 0.4 percent, marking the third straight monthly decline.
The U.S. economy grew at a three-percent annual rate in thethird quarter, while the residential construction was down for thesecond straight quarter. With the low level of unemployment andstrong economic growth, economists expect the sale and constructionwould rebound in the future. Enditem