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Activity at the state and local level was down 1.3 percent in April while spending on federal building projects dipped a smaller 0.1 percent. For all of 2012, construction spending increased 9.8 percent. That marked the first annual gain after five straight years of declines. Construction spending is still well below healthy levels although housing is helping to support building activity in the face of the weakness in government projects. Steady hiring and nearly record-low mortgage rates have encouraged more Americans to buy homes. More people are also moving out on their own after living with friends and relatives in the recession. That's driving a big gain in apartment construction and also pushing up rents. New-home sales rose 2.3 percent in April, only slightly below January's pace which had been the fastest since July 2008.
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