The U.S. Commerce Department released construction spending data on Wednesday. Construction spending in the U.S. declined 0.1% in February, in line with expectations, after a 1.7% drop in January. It was the second consecutive decline.

January's figure was revised down from a 1.1% decrease.

A 0.8% decrease in public construction outlays weighed on construction spending.

Spending on federal government projects rose 9%, but state and local government outlays dropped by 1.6%.

Spending on private construction projects increased 0.2%, while spending on private residential construction spending declined 0.2%.

Spending on single-family construction plunged 1.4%, while multi-family home building climbed 4.1%.