US construction spending falls 0.1% in February

By Ovunc Kutlu

ISTANBUL (AA) – US construction spending fell 0.1% to $1,844.1 billion in February, according to data released Monday by the Commerce Department.

Construction spending, one of the major indicators of well-being in the construction sector, came in line with market estimates.

The figure for January was revised to $1,845.4 billion, the figures showed – up 0.4% from the previous month.

Annually, February's reading was 5.2% above the figure from the same month last year, when it stood at $1,753.1 billion, the Commerce Department said.

While spending on private construction in February remained almost unchanged from the previous month, public construction spending fell 0.2% month-on-month, according to the agency.