U.S. construction spending stumbled in February, pushed by a slip in residential construction spending, according to data released Monday from the Commerce Department.
Total spending on construction lowered 0.1 percent in February from the previous month, after a 0.4 percent increase in January.
February’s figures missed the 0 percent rise that had been forecast by Wall Street.
The drop was spurred by a 0.6 percent reduction in spending on residential construction.
