US construction spending for February -0.5% vs. +0.1% est.

Prior month rose by 2.1% revised up from 1.5%

US construction spending fell by -0.5% in the month of February vs +0.1% estimate. However, the prior month was revised higher to +2.1% from 1.5% initially reported.

Private construction fell by -0.1% and public spending fell by -1.7% int eh current month.

The outlays for private home construction was the highest since October 2007.

Residential construction rose by 0.9% while nonresidential fell by -1.4%.