U.S. construction spending drops to 1999 level in February

04/3/2011 | Bloomberg · MarketWatch

Construction spending in February unexpectedly fell to its lowest level in more than 11 years, largely because of sharp declines in both residential and commercial real estate, according to the Commerce Department. Outlays for construction work totaled $760.6 billion, a 1.4% decline. Federal construction spending, however, increased 0.7%.

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Bloomberg · MarketWatch

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