Lewis Hine, The New York Public Library collections
Construction spending rose more than expected in July.
Spending ticked up 0.7% against expectations for a 0.6% increase.
June's number was also revised higher to show spending grew 0.7% against an initial reading for a 0.1% in spending.
Residential construction spending, which accounts for about one-third of construction spending, rose 1.1% in July compared to the prior month. Against July 2014, residential construction spending rose 15.8%.
Total spending was up 13.7% against last year.
In July, housing starts rose to an annual rate of 1.21 million, a 7-year high. Amid the recent worries about economic growth both in the US and abroad, the housing market has been among the most robust areas of the economy.
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