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Mar construct spending -1.7%, well below....>

US DATA
US DATA: Mar construct spending -1.7%, well below the +0.5% exp, but 
Feb and Jan were rev up strongly to +1.0% and +1.7%, respectively. 
- Private residential building -3.5%, the largest decline since Apr 
2009. Within the category, 1-family -0.4%, multi-family -2.7%, and 
building ex. new homes -8.0%, based on an MNI calc. 
- Private nonres building -0.4%, driven by declines in lodging, 
commercial, health care, and manufacturing.
- Public construction was flat. State and local building -0.3%, but 
Federal construction +2.2%, to its highest level since Sep 2011.

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