Construction Spending Decreased by 1.1% in February

Reports from the Commerce Department indicate construction spending declined 1.1% in February, the largest drop in seven months.

According to the U.S. Commerce Department, construction spending in February declined 1.1%, following January's 0.8% drop.

To consecutive months of spending drops indicate that the construction industry is still trying to recover from the 2007 to 2009 recession. 

Government construction spending fell 1.7% in February, while non-residential spending for offices, hotels and shopping malls fell 1.6%. 

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