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Last updated on April 23, 2014 at 15:57 EDT

Construction spending down in February

April 1, 2009

Spending on construction in the United States fell in February, the U.S. Commerce Department said Wednesday.

Construction spending fell to a seasonally adjusted annual rate of $967.5 billion, a drop of 0.9 percent from January’s revised estimate of $976.2 billion, the report said.

Construction spending fell 10 percent from a year ago, the report said.

Private construction, at a seasonally adjusted annual rate of $665.9 billion fell 1.6 percent below January’s revised estimate of $676.9 billion, the report said.

Residential private construction fell 4.3 percent in the month with seasonally adjusted annual spending at $275.1 billion.

Non-residential private spending on construction projects rose 0.3 percent on the month to an adjusted annual rate of $390.7 billion.

Public construction rose in February, up 0.8 percent to $301.7 billion.

Educational construction rose 1.7 percent to $86.9 billion, while highway construction outlays fell 0.5 percent to $77.7 billion, the government said.


Source: upi