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April 1, 2020, 10:05 a.m. EDT

Construction spending weak in February

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By Greg Robb

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%.

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