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Construction spending falls back in March

March represented a departure from February’s spending growth and a return to the two-straight months of declines in December and January. Industry observers expect construction spending to grow in 2017, with Dodge Data & Analytics economists forecasting that total construction starts could reach $712.9 billion for the year, a 5% increase from 2016.

In the residential construction sector, housing starts dropped off 6.8% in March while building permit authorizations were up 3.6% from February and 17% year-over-year. Those figures could signal growth in residential construction spending in the coming months.

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