Construction activity stalls, with implications for freight markets

Construction activity remained essentially flat for the second consecutive month, as the sector looks to gain some footing heading into the spring home buying season.

The Census Bureau reported yesterday that the total value of construction put into place in the economy rose by 0.1% in February to a seasonally adjusted annualized level of $1.27 trillion. This fell well short of consensus expectations of a 0.5% gain as year-over-year growth fell to 3.0%. (Story continued below