February construction spending falls 1.1%

[Letsbereal]

February construction spending falls 1.1%
2 April 2012, by Ruth Mantell - Washington (MarketWatch)
http://www.marketwatch.com/story/february-construction-spending-falls-11-2012-04-02

Construction spending fell 1.1% in February to a seasonally adjusted annual rate of $809 billion, the Commerce Department said Monday.

Economists polled by MarketWatch had expected a 0.7% gain.

Private residential construction was nearly unchanged, while private nonresidential construction fell 1.6%.

Public construction spending fell 1.7%.

Compared to February 2011, overall construction spending is up 5.8%.

Spending in January was revised to a 0.8% drop from a prior estimate of a 0.1% decline.