Construction spending down to $846.2 billion, lowest in 7 years

Construction spending in the U.S. fell in February to the lowest level in more than seven years, according to an April 1 Bloomberg report.

The report noted that the 1.3 percent decrease to $846.2 billion, the lowest since November 2002, followed a revised 1.4 percent drop in January that was more than twice as large as previously estimated, Commerce Department figures showed in Washington on April 1.