The Commerce Department said on Wednesday construction spending decreased 0.9 percent m-o-m in March after a downwardly revised 0.7 percent m-o-m gain in February (originally a 1.0 percent m-o-m advance).

Economists had forecast construction spending increasing 0.1 percent m-o-m in March.

On a y-o-y basis, construction spending declined 0.8 percent in March.

According to the report, investment in public construction dropped 1.3 percent m-o-m, while spending on private construction fell 0.7 percent m-o-m