Economic Update: Feb. U.S. Construction Spending Declined 1.1%

February U.S. construction spending fell 1.1% month-over-month, which was much weaker than the 0.7% increase expected by consensus. I also comes after January was revised downward to a 0.8 drop (previously down 0.1%). Residential spending was flat in February, after January was revised down to a 0.1% drop (was up 1.6%). Nonresidential spending fell another 1.6% after a 1.1% drop in January (revised from a 0.8% decline). Both private and public spending fell over January, down 0.8% and 1.7%, respectively. The report was disappointing, though the upbeat ISM manufacturing sentiment data may help offset the news.

The posts on this blog are opinions, not advice.
Please read our disclaimers for Ratings Services, Indices, Equity Research, Securities Evaluations and Risk Solutions.

Post a Comment

Thank you for submitting a comment. We ask you to use the comment guidelines to promote thoughtful and productive discussions. Your comment will be approved before it will be posted. Thank you for your patience.

Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

  • Categories

  • Recent Comments

  • Tags