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Construction spending up for third straight month

WASHINGTON — Construction spending rose for a third straight month in November, helped by another increase in housing and a record level for spending on federal building projects.

The Commerce Department says construction spending increased 0.4 percent in November following gains of 0.7 percent in October and 1.2 percent in September.

Even with the three straight monthly gains, building activity remains 33.2 percent below the all-time high hit in March 2006, when spending was being driven by a record boom in housing.

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