Posted April 1, 2011
February construction spending falls
Construction spending fell by 1.4 percent during February according to the U.S. Census Bureau.
February spending was estimated at a seasonally adjusted annual rate of $760.6 billion, compared to the revised January estimate of $771.0 billion.
During the first two months of this year, construction spending amounted to $103.7 billion, 8.2 percent below the $112.9 billion for the same period in 2010.
Spending on private construction was at a seasonally adjusted annual rate of $468.0 billion, 1.4 percent below January's level. Public construction spending was $292.5 billion, 1.3 percent below the revised January estimate.
