Construction Spending Almost Flat in February

Spending on construction projects remained flat in February, increasing 0.1 percent from January.

February spending was recorded at a seasonally adjusted annual rate of $1.27 trillion, according to the U.S. Commerce Department.

Both total residential construction spending, the largest single category, and nonresidential spending rose 0.1 percent.

Total private construction spending increased 0.7 percent, while government-funded construction dropped 2.1 percent.

Total construction spending for the month remained 3.0 percent higher than in February 2017.