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U.S. construction spending inched upward in January
U.S. construction spending during January reached a seasonally adjusted annual rate (SAAR) of $943.1 billion, 0.1% higher than the revised December estimate and 9.3% higher than the January 2013 total. Spending on private construction climbed to $670.8 billion, up 0.5% from December. Private spending on residential construction was at a SAAR of $359.9 billion, up 1.1% above the revised December estimate. Nonresidential private construction slipped to a SAAR of $310.9 billion, 0.2% below the revised December estimate. Public construction spending declined 0.8% in January to a SAAR of $272.3 billion. For more, click here...
U.S. economy grew 2.4% in 4th quarter
U.S. output of goods and services increased at an annual rate of 2.4% in the fourth quarter, according to the Bureau of Economic Analysis. The estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. With this second estimate for the fourth quarter, an increase in personal consumption expenditures was smaller than previously estimated. For more, click here...
Canada's GDP posts 4th quarter gain
Canada's real gross domestic product expanded 0.7% in the fourth quarter, the same increase as in the third quarter, according to Statistics Canada. On a monthly basis, real GDP fell 0.5% in December. For more, click here...
Canadian CPI edges higher
Canada's Consumer Price Index rose 1.5% in the 12 months to January, following a 1.2% increase in December, according to Statistics Canada. The year-over-year increase was led by higher shelter costs, which rose 2.1% in January. For more, click here...
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