Posted April 1, 2010
Construction spending fell in February
Construction spending was estimated at $846.2 billion in February, 1.3 percent below the revised January estimate of $857.8 billion.
The U.S. Census Bureau said the February figure is 12.8 percent below the February 2009 estimate of $970.4 billion. During the first 2 months of this year, construction spending amounted to $116.2 billion, 14.4 percent below the $135.7 billion for the same period in 2009.
Spending on private construction was at a seasonally adjusted annual rate of $553.5 billion, 1.2 percent below the revised January estimate of $560.1 billion. Public construction spending was $292.7 billion, 1.7 percent below the revised January estimate of $297.7 billion.
