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Construction spending down to $846.2 billion, lowest in 7 years

Posted By Tina Grady Barbaccia On April 5, 2010 @ 2:42 pm In Aggbeat Online | No Comments

Construction spending in the U.S. fell in February to the lowest level in more than seven years, according to an April 1 Bloomberg report [1].

The report noted that the 1.3 percent decrease to $846.2 billion, the lowest since November 2002, followed a revised 1.4 percent drop in January that was more than twice as large as previously estimated, Commerce Department figures showed in Washington on April 1.

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[1] April 1 Bloomberg report: http://www.businessweek.com/news/2010-04-01/construction-spending-in-the-u-s-decreases-to-seven-year-low.html

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