The U.S. Commerce Department released construction spending data on Friday. Construction spending in the U.S. fell 0.5% in February, missing expectations for a 0.1% gain, after a 2.1% increase in January. January's figure was revised up from a 1.5% rise.

The decrease was mainly driven by a drop in total public spending. Total public construction spending slid 1.7% in February, while total spending on private construction projects decreased 0.1%.