The manufacturing sector continues to grow with improvements in inventories, exports, supplier deliveries and employment. The ISM Manufacturing Index remained above 50, signaling expansion, though it declined slightly from the prior month. Construction spending posted a small increase in June led by growth in public and commercial building, but overall construction spending remains 8% below last year's level.

1. Daily Economic Update
Daily Economic Update
August 2, 2010
 The manufacturing sector continues to grow, with improvements in
The manufacturing sector continues to grow with improvements in
inventories, exports, supplier deliveries and employment. The ISM
Manufacturing index posted the 12th consecutive month of growth.
 •The ISM index in July was 55.5. An index reading of 50 or higher implies an
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expansion in the manufacturing sector. July’s reading is a slight decline from
the 56.2 figure in the prior month. But the reading implies continued
expansion in the manufacturing industry. The employment index was 58.6, the
eighth consecutive monthly advance.
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 Construction spending posted a slight increase in June due to growth in public
residential building and commercial real estate completions. However, the
overall construction spending is still 8 percent below a year ago.
overall construction spending is still 8 percent below a year ago
 Construction spending rose 0.1 percent in June. The rise came from
completions of new home construction as well as commercial projects—
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medical buildings, power, waste and water plants. Office building construction
was also up slightly while other commercial real estate building completions
fell slightly. Public construction spending rose by 1.5 percent.
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