Construction spending declines in February
Construction spending during February declined 1.4 percent compared with January and 6.8 percent compared with a year earlier, according to the U.S. Census Bureau and the Dept. of Commerce.
During the first two months of 2011, construction spending amounted to $103.7 billion, 8.2 percent below the $112.9 billion for the same period in 2010.
Spending on residential construction was at a seasonally adjusted annual rate of $228.5 billion in February, 3.7 percent less than the revised January estimate of $237.2 billion.
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