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M. Continuo

U.S. construction spending falls in January


    WASHINGTON (Reuters) - U.S. construction spending unexpectedly fell in January as both private and public outlays fell, a government report showed on Monday.

    Construction spending declined 1.1 percent to an annual rate of $971.4 billion, the Commerce Department. It was up 1.8 percent compared to January last year.

    (Reporting By Lucia Mutikani; Editing by Chizu Nomiyama)