Commerce Department Report for Chicago Construction

According to the Chicago Tribune, the Commerce Department reported that in the month of July construction spending grew over 0.6 percent , rising to the highest level in 4 years.

Construction spending increased to an adjusted annual rate of $915 billion, with an increase of 7.1 percent above the previous August, which was led by private residential building.  This improvement in the construction industry is due to the housing recovery over the last year.  Lodging construction also had solid growth in the month of August.

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