US construction spending down 1.3% in February
A seasonally adjusted annual rate of construction spending in the United States was estimated at $1,366.7 billion in February, dropping 1.3% compared to the previous month to miss the estimates, the US Census Bureau reported on Monday. The figure jumped 6% compared to February 2019 estimate that stood at $1,289.0 billion.
Spending on private construction slid 1.2% in February compared to January’s revised figure to land at $1,03 billion, while the estimated seasonally adjusted annual rate of public construction spending was at $340.9 billion in the same month, dropping 1.5% on a monthly basis.
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