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WASHINGTON — Builders increased their spending in December for the fifth consecutive month, offering more evidence of improvement in the battered construction industry. Housing, nonresidential construction and government projects all showed gains.
The Commerce Department says spending on construction projects rose 1.5 percent in December after a revised 0.4 percent gain in November. That pushed spending to a seasonally adjusted annual rate of $816.4 billion, the highest level in 20 months.
