U.S. construction spending fell 1.4 pct in Feb

WASHINGTON, April 1 (Reuters) – U.S. construction spending
fell more than expected in February to its lowest level since
October 1999, a government report showed on Friday, pulled down
by weakness in both public and private construction.

The Commerce Department said construction spending fell
1.4 percent to an annual rate of $760.6 billion, underscoring
renewed weakness in the housing sector. January’s spending was
revised to show a larger 1.8 percent drop than the previously
reported 0.7 percent decline.

Economists polled by Reuters had forecast construction
spending faliing 0.1 percent in February.
(Editing by Theodore d’Afflisio)

U.S. construction spending fell 1.4 pct in Feb