Construction Spending Growth Offers Hope for Economic Recovery

Construction industry spending, on single-family housing, apartments and remodeling projects grew last November as the economy made a strong finish to 2011, another positive sign that indicates the US economy may finally be entering its recovery phase.

Spending on Construction Up 1.4% Last Month

Building companies increased their spending on the construction of new homes and offices during August, following a huge drop in spending the month before, said the Commerce Department earlier this week. According to a report in the Washington Post, spending on construction in the last month rose by 1.4%, and saw modest increases in spending

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