February Construction Spending

As expected construction spending fell in February marking the fifth consecutive month of lowered spending. The silver lining to this cloud was that it only fell by 0.3% as opposed to the expected 1% some experts were predicting. The unfortunate news for the non-residential construction community is that spending continued to fall for this segment and the area that had been carrying the entire industry on its shoulders seems to be stumbling a bit now. Yet, public construction saw a rise in spending which is good news as this area is predicted to remain strong throughout the year.