U.S. Construction Up in February

U.S. construction spending increased 0.8 percent in February, according to statistics released by the U.S. Department of Commerce on April 3.

Total spending rose to a seasonally adjusted annual rate of $1.185 trillion in February, doubling the expected 0.4 percent increase.

Private residential spending increased 1.3 percent, which offset a drop in spending on public construction.

Spending on total private construction rose 1.2 percent to $931 billion. Private non-residential spending increased 0.8 percent to $265 billion.

Public construction fell 0.5 percent to $254 billion, with spending decreasing in many building categories including office, transportation, water supply and commercial.