Sixth Decline in Housing Pushes Overall Construction Down in September

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WASHINGTON -- Construction spending fell in September as home building declined for a sixth consecutive month, the longest stretch of weakness in residential construction in more than a decade.

The Commerce Department said that spending on construction projects dropped by 0.3 percent to a seasonally adjusted annual rate of $1.196 trillion in September. It was the biggest decline since a 0.7 percent fall in July and the fifth month in which overall construction activity has either declined or been flat.

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Sixth Decline in Housing Pushes Overall Construction Down in September

Housing was down 1.1 percent in September, reflecting the steep slump in this once booming sector ...

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