WASHINGTON, April 1 (UPI) -- Construction spending inched up 0.4 percent in February to $1.047 trillion, the U.S. Department of Commerce reported Friday.
The rate was slightly lower than the market consensus of 0.6 percent.
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In January, the annual spending rate reached $1.044 trillion.
Spending in the private non-residential sector, however, fell 1.2 percent in February, even though residential spending rose by 0.7 percent in the latest month. Public construction spending meanwhile rose 1.1 percent.