ISM manufacturing gauge hits 13-year high in February; Construction spending unchanged in January

[mahatmakanejeeves]

Hat tip, Tero Kuittinen: https://twitter.com/teroterotero

ISM employment index hitting giddy 59 - US economy finally hitting labor scarcity sufficient to drive wage increases. Fascinating to see how the inflation thing plays out.

Link to tweet

ISM manufacturing gauge hits 13-year high in February

Published: Mar 1, 2018 10:33 a.m. ET

By STEVE GOLDSTEIN D.C. BUREAU CHIEF

The numbers: The Institute for Supply Management said its manufacturing index rose to 60.8% in February, up from 59.1% in January, to reach the highest level since May 2004.

Economists polled by MarketWatch had expected a reading of 59%. Any reading above 50% indicates improving conditions.

ISM manufacturing index hits 60.8 in February; construction spending unchanged in January

• ISM manufacturing activity rises at a faster pace than anticipated.
• U.S. Construction spending growth was flat in January, underwhelming economists' expectations.

Published 2 Hours Ago Updated 1 Hour Ago

A measure of U.S. manufacturing activity increased faster in February, extending a growth streak that stretched into 18 months.
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Construction spending

U.S. construction spending was unexpectedly flat in January as a surge in investment in public construction projects was offset by a decline in private outlays.

The Commerce Department said on Thursday the virtually unchanged reading in construction spending followed an upwardly revised 0.8 percent jump in December.