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US construction spending up 0.5 percent in May

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WASHINGTON (AP) — Spending on residential housing rose in May to the highest level in 4½ years, helping to send overall construction spending higher despite a big drop in nonresidential activity. Construction spending rose 0.5 percent in May compared with April when spending was up 0.1 percent, the Commerce Department said Monday. Private residential construction rose 1.2 percent to the...