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Construction spending slips in June, led by a public spending swoon

Overall spending was up nearly 5% for the first half of the year compared to a year ago.

Outlays for construction projects dipped in June after a strong start to the year as spending on public works tumbled.
Construction spending fell 1.3% to a seasonally adjusted annual rate of $1.21 trillion, but May’s rate, originally reported as $1.23 trillion, was revised down to a $1.22 trillion pace.

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