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BUILDING OUTLAYS ROSE .2% IN JUNE

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Construction spending inched up just 0.2 percent in June, held back by the first decline in single-family outlays in 14 months, the government said Monday. However, it was the fourth straight advance.

Spending on residential, non-residential and government projects totaled $508 billion at a seasonally adjusted annual rate, up from a revised $507.2 billion in May. The initial May estimate was $504.2 billion.After slipping in the harsh winter during January and February, construction outlays rebounded 2.1 percent in March, 0.9 percent in April and 1.3 percent in May.

However, higher mortgage rates have slowed growth in the residential sector. Residential spending was down 0.2 percent in June, to a $240.7 billion rate, including a 0.5 percent drop in outlays for single-family houses. Apartment outlays fell even farther, dropping 2.3 percent.

The single-family decline was the first since a 1.3 percent plunge in April 1993.

Thirty-year, fixed-rate mortgages averaged 8.43 percent in June, the third straight month above 8 percent, according to surveys by the Federal Home Loan Mortgage Corp. Rates had fallen to 6.74 percent in October, a 25-year low.