Construction Spending in U.S. Rises on Gain in Home Building

Construction spending in the U.S. rose in February, paced by the highest level of home building in more than four years.

Outlays climbed 1.2 percent to an $885.1 billion annual rate, following a 2.1 percent decrease in January, the Commerce Department reported today in Washington. The median forecast of 41 economists surveyed by Bloomberg called for a 1 percent rise.