Construction Spending Dips in February

Washington, DC, April 2, 2012 -- U.S. Construction spending fell 1.1% in February, according to the Commerce Department.

The government put overall U.S. construction spending at a seasonally adjusted annualized rate of $808.9 billion.

That marks the largest drop in overall construction spending since July 2011.
In addition, January's figure was adjusted lower, from a 0.1% decline to a 0.8% decline.

Economists were expecting to see a 0.7% increase.