U.S. mixed data released. Construction spending up, Manufacturing decreases.

January 2, 2008 - Forex Economic News

In mixed data releases out of the U.S. today, the U.S. Department of Commerce released a report that showed U.S. construction spending increased in November by 0.1 percent. Construction spending in October had decreased by 0.4 percent and despite November's rise, construction spending is down 0.1 percent compared to a year ago. Public construction rose by 2.5 percent in November while private non-residential spending on construction increased by 1.7 percent. Private residential construction spending fell 2.5 percent in November following up a decline of 2.3 percent in October and it marked the 21st straight month of decline in residential construction spending.

U.S. manufacturing activity declined in the month of December in a report released today by the Institute for Supply Management. The Manufacturing ISM Report On Business showed that its index for manufacturing activity fell to 47.7 in December down from 50.8 in November. A score of less than 50 means that the manufacturing sector has contracted or decreased in output for that month. The manufacturing index had shown positive growth for 10 straight months before December. The report revealed that the manufacturing sector was slowed by decreases in new orders, production and employment. Read the full report.

Tags: construction spending, Institute for Supply Management, Manufacturing data-------------------------------------------------------------------------------- Blog index