WASHINGTON--U.S. construction spending rose unexpectedly in April, recording its largest monthly increase in nearly 10 years, according to a government report on Tuesday.
The Commerce Department said construction spending rose 2.7%, the biggest advance since August 2000, to an annual rate of $869.1 billion. March's increase was revised up to 0.4% from a 0.2% gain.
Economists surveyed by Reuters forecast that construction spending would be unchanged in April.
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