Construction spending weak in February
Outlays for construction projects fell 1.3% in February at a seasonally adjusted annual rate of $1.37 trillion, the Commerce Department reported Wednesday. Economists polled by MarketWatch had expected a 0.7% gain. Spending in January was revised to a 2.8% rise from the prior estimate of a 1.8% increase. Residential construction fell 0.6% in February, while spending on public construction projects fell 1.5%.
-Greg Robb; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
April 01, 2020 10:04 ET (14:04 GMT)
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