Construction Feb. Spending Down from Jan. But Up from 2015
Construction spending edged down 0.5% in February from January’s total to a $1.14-trillion annual rate, but rose 10.3% from the year-earlier level, the Commerce Dept. has reported.
Commerce’s U.S. Census Bureau said in an April 1 report that the value of nonresidential construction projects completed in February declined 1.4%, to a $690.3-billion seasonally adjusted annual rate but climbed 10.1% from the February 2015 level.