Daily Economic Update, January 3, 2011

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Daily Economic Update, January 3, 2011

  1. 1. Daily Economic UpdateJanuary 3, 2011Construction spending increased in November by 0.4%, for the third consecutive month, but is still 6% below the November 2009 level.Construction spending is being driven by public non‐residential spending which increased by 3.3% from November 2009. In contrast, private non‐residential and private residential spending decreased by 16.5% and 5.3% respectively over the same time frame.The market for new construction is still suffering from excess supply, and the construction taking place is largely government office space. Produced by NAR Research
  2. 2. Daily Economic UpdateJanuary 3, 2011 ISM’s manufacturing index increased by 0.7% in December to 57.0. An  index value in excess of 50 suggests both manufacturing and overall  economic expansion. The increase was largely attributable to an increase in new orders and  production, which increased by 7.6% and 10.4% to 60.9 and 60.7  respectively. The manufacturing index is closely linked to GDP growth, and the  strengthening of the manufacturing sector portends positive overall  economic growth. Produced by NAR Research

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