Strong home market boosts U.S. construction spending

04/1/2013 | Bloomberg

Construction spending in the U.S. returned to growth in February, rising 1.2% after a 2.1% drop in January, spurred by the biggest surge in home building in four years, the Commerce Department reported. February's gain was more than economists predicted. "Housing, growth-wise, will be the best-growing sector of the major sectors in 2013, hands down. ... There's an inevitability that it has to go higher," said Ken Mayland, president of ClearView Economics.

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