By Steve Goldstein
WASHINGTON (MarketWatch) -- Construction spending tumbled in March, shedding 1.7% to a seasonally adjusted annual level of $856.7 billion, the Commerce Department said Wednesday. Despite a solid 0.7% advance in residential construction, nonresidential construction on projects like offices and health-care facilities dropped 2.9% on the month. February's growth rate was revised higher to show 1.5% advance instead of a 1.2% gain, but it was at a lower level, reflecting a downward revision to January's levels. Spending in March was 4.8% higher than the same period of 2012.
