Sunday, January 8

Data show growth in the sector factory construction

The Institute for supply management (ISM) said on Tuesday that the index of national factory activity for December is a reading of 53, 9-showed the best level since June.

A reading above 50 shows growth in this sector.

Separately, rose construction spending U.S. to one near 1-1/2 year in November high such as investments in public and private projects solid, solvent cementing increased expectations of strong economic growth in the fourth quarter.

Construction investments 1.2 percent to an annual rate of $807.1 billion, its highest level since June 2010, increases said the Commerce Department on Tuesday.

Spending in October was 0.2 per cent declined, looked at after initially reported as an increase to 0.8 per cent.

Economists of from Reuters respondents had construction investment expected to rise 0.5% in November.

Overall, the construction investment was up 0.5 percent compared to November 2010.

Private construction spending rose by 1.0%, promotion for a fourth month. 2.0 Per cent, with solid gains in multi-family and single family homes increased spending on residential projects.

The housing market shows some signs of recovery, with generators more ways in new projects for the growing demand for rented accommodation. It is less and less of a drag on the economy and is expected to significantly add to the growth in the year 2012.

Private nonresidential building was flat in November after falling 0.6 percent of the previous month.

Spending on public construction had 1.7 per cent in November as 5.3 percent federal expenditure jumped when dropped from 7.5 per cent in October.

State and local government spending for a 1.2 per cent in the previous month increased 1.3 percent.

The associated press and Reuters contributed to this report.

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