Manufacturing And Construction Strong in August
Recently released economic reports show manufacturing and construction activity showed signs of strength for the month of August.
The Commerce Department reported construction spending rose 1.4% in the month of August while the Institute for Supply Management factory index rose from 50.6% in August to 51.6% in September.
The rise in manufacturing is influenced by an increase in export production. Orders from China and Japan have had a direct impact along with new orders from other external demands. The increase in construction spending can be attributed to local and state governments. Construction projects include the building of schools, streets, highways, and waste disposal plants.