Construction Spending & ISM Manufacturing Index (March 1)

Construction Spending decreased by 0.7% to $791.8 billion during January, against expectations that the figure would decrease by 0.4%, after decreasing by 1.6% in December. Year over year, construction spending had declined by 5.9% from the January 2010 estimate of $841.0 billion.

The ISM Manufacturing Index increased to 61.4 in February, its highest level since May 2004, following an increase to 60.8 in January from the 58.5 level in December. The index indicated growth for the 21st consecutive month in the overall economy, as well as expansion in the manufacturing sector for the 19th consecutive month.

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