Daily Economic Update, January 3, 2011

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  • 1. DailyEconomicUpdateJanuary3,2011ConstructionspendingincreasedinNovemberby0.4%,forthethirdconsecutivemonth,butisstill6%belowtheNovember2009level.Constructionspendingisbeingdrivenbypublicnonresidentialspendingwhichincreasedby3.3%fromNovember2009.Incontrast,privatenonresidentialandprivateresidentialspendingdecreasedby16.5%and5.3%respectivelyoverthesametimeframe.Themarketfornewconstructionisstillsufferingfromexcesssupply,andtheconstructiontakingplaceislargelygovernmentofficespace.ProducedbyNARResearch

2. DailyEconomicUpdateJanuary3,2011 ISMsmanufacturingindexincreasedby0.7%inDecemberto57.0.An indexvalueinexcessof50suggestsbothmanufacturingandoverall economicexpansion. Theincreasewaslargelyattributabletoanincreaseinnewordersand production,whichincreasedby7.6%and10.4%to60.9and60.7 respectively. ThemanufacturingindexiscloselylinkedtoGDPgrowth,andthe strengtheningofthemanufacturingsectorportendspositiveoverall economicgrowth.ProducedbyNARResearch