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Construction Ticks Up, World Cautiously Rejoices

The markets are all atwitter today over a slight uptick in construction spending in March: by 0.3 percent, rather than a continued drop of 1.5 percent. Perhaps, think some, this is the first sign of a rally for the comatose construction sector, and the economy at large. Still, it could all be a fluke, a temporary boost from a passing wave. Spending on private residential construction fell by a solid 4.2 percent, with nonresidential rising just a bit. And in stimulus news: government building was up 1.1 percent. All those ready shovels did their shoveling, apparently, and may be doing some more as the months go by. If construction spending is to continue, expect more "creative" financing techniques.
· Construction spending, pending home sales rise [SF Gate]
· Time to Hit Up the Feds for Construction Help [Curbed SF]