Bullish U.S. manufacturing, construction data bolster growth outlook

The Institute for Supply Management (ISM) said on Tuesday its index of national factory activity rose to 59.0 last month, the highest reading since March 2011, from 57.1 in July. Separately, the Commerce Department said construction spending increased 1.8 percent to an annual rate of $981.31 billion, the highest level since December 2008. July's percentage rise in construction spending was the largest since May 2012 and reflected gains across all categories, with the exception of federal government. Economists had forecast construction spending increasing 1.0 percent after a previously reported 1.8 percent drop in June.

via Business News http://ift.tt/1lG79nu