Construction Spending (May 2)

Construction Spending increased by 1.4% to $768.9 billion during March, against expectations that the figure would increase by 0.4%, after decreasing by 1.4% in February. Year over year, construction spending had declined by 6.7% from the March 2010 estimate of $824.0 billion.

The ISM Manufacturing Index decreased to 60.4 in April, following a decrease to 61.2 in March from the 61.4 level in February. The index indicated growth for the 23rd consecutive month in the overall economy, as well as expansion in the manufacturing sector for the 21st consecutive month.

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