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.
