US construction spending down 1.3% in February

Business

The American flag flutters in the wind as work is done on the roof of a building under construction in Sacramento, Calif., Tuesday, March 31, 2020. While most Californian’s have spent more than a week under a mandatory stay-at-home order, because of the coronavirus, construction work is among the jobs exempt as part of the “essential infrastructure.” (AP Photo/Rich Pedroncelli)

WASHINGTON (AP) — Spending on U.S. construction projects fell 1.3% in February with housing and nonresidential construction both showing weakness even before the coronavirus struck with force in the United States.

The Commerce Department said Wednesday that the February decline followed a 2.8% rise in construction in January. Economists are forecasting more declines to come, especially in housing activity as the stay-at-home orders in much of the country crimp home sales.

Home construction fell 0.6% in February with the weakness coming in home remodeling projects. Construction of single-family homes and apartments both showed gains.

Spending on nonresidential projects was down 2% with declines for office buildings, hotels and the category that covers shopping centers.

Government spending, which covers state and local building projects and the federal government, dropped 1.5%.

The various changes left total construction spending at a seasonally adjusted annual rate of $1.37 trillion, up 6% from a year ago.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

CBS47 On Your Side

Do you have a problem that you need help solving? Contact CBS47 and let us be On Your Side.

Phone: 559-761-0383
Email: OnYourSide@cbsfresno.com

Don’t Miss

Sunday Service
Best of the Valley
Sunday Morning Matters
MedWatch Today
Hispanic Heritage
Bulldog Insider: The Podcast
The Valley's Armenia
Pros Who Know

Images from Armenia

Small patients in Armenia
Yerevan by night.
Dr. Jeff Thomas delivers.
Dr. Jeff Thomas delivers in Gyumri.
Doctors unpack medical supplies from The Central Valley.
Fresno Medical Mission at work.
Medical Supplies being unloaded.
Fresno Medical Mission at the ready.
KSEE24 crew witnesses the miracle of life in Gyumri, Armenia.
Life saving work of Central Valley surgeons in Armenia.
Ribbon cutting on new surgical center in Ashtarak Armenia. Fresno donors made this dream come true.
KSEE24 on assignment with the Fresno Medical Mission
Honorary Consulate to Armenia Berj Apkarian explains the crisis facing one hospital.
KSEE24's Stefani Booroojian and Kevin Mahan at the meeting with President Bako Sahakyan.
Medical Meeting in Artsakh.
The President of Artsakh meets with the Fresno Medical Mission.
Learning modern medicine techniques with the Fresno Medical Mission in surgery.
Leaning in for a look. Dr. Brien Tonkinson holds class and helps a patient in Armenia.
Fresno Medical Mission cares on one of the smallest patients in the region. Six-year old Yanna receives life-changing better breathing surgery.