Construction Spending Rises in February

Washington, DC, April 1, 2013 -- Construction spending rose in February, due mostly to the highest level of home building in more than four years, according to the Commerce Department.

Spending rose 1.2% to an $885.1 billion annual rate, following a 2.1% decrease in January.

Economists called for a 1% rise.

Construction spending increased 6.6% in the year ended in February.
Private spending rose 1.3% from January.