Construction Spending Rises in February

Construction spending rose 1.2% in February, the Commerce Department said Monday.

The increase brought outlays to $885.1 billion and followed a 2.1% decrease in January, Commerce said.

Economists had forecast a 1% increase, Bloomberg News reported.

Private construction spending rose 1.3%, and spending on single-family homes rose 4.3%.

Construction spending can boost demand for trucking services because spending increases the number of shipments of goods and building materials.