Construction Spending Sets Record

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Construction spending climbed to an all-time high in December, helping to push building for all of 2005 to a record as well.


The Commerce Department reported that spending rose by 1 percent in December as private construction and government spending on building activities set records. For the year, spending to construct homes, offices, highways and other building projects totaled a record $1.120 trillion, up 8.9 percent from the previous record of $1.028 trillion spent in 2004.


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