Spending on construction projects fell 1.1% to a seasonally adjusted annual rate of $1.124 trillion in March as private construction decreased 1.7% and public construction grew 0.6%, according to Commerce Department figures released yesterday.

The overall decrease, which was larger than the 0.9% decrease projected by IFR Markets, followed a revised February increase of 0.4% to a level of $1.137 trillion, originally reported as a 0.3% drop to $1.122 trillion.

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