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U.S. construction spending edged up 0.2% in August, led by home renovations, despite a drop in new housing starts.
U.S. construction spending rose 0.2% in August to $2.169 trillion annually, defying expectations of a decline, according to a delayed Census Bureau report.
The increase was driven by a 0.8% rise in residential construction, particularly home renovations, while new single-family housing investment fell.
Private construction spending climbed 0.3%, but nonresidential investment dropped 0.3%, and public spending held steady.
The data, released after a 43-day government shutdown, marks one of the first economic reports post-shutdown, with no update on the September release timeline.
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El gasto en construcción de EE. UU. aumentó un 0,2% en agosto, liderado por las renovaciones de viviendas, a pesar de una caída en las nuevas viviendas.