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10:00 AM ET 7/3/06 U.S. APRIL CONSTRUCTION SPEND DOWN REVISED 0.2% VS 0.1% PREV
10:00 AM ET 7/3/06 U.S. MAY CONSTRUCTION SPENDING WEAKEST SINCE SEPT. 2004
10:00 AM ET 7/3/06 U.S. MAY CONSTRUCTION SPENDING DOWN 0.4% VS UP 0.2% EXPECTED
U.S. May construction spending down 0.4% vs up 0.2% expected
By Greg Robb / Last Update: 10:00 AM ET Jul 3, 2006
WASHINGTON (MarketWatch) - Spending on U.S. construction projects decreased 0.4% in May, the biggest decline since September 2004, the Commerce Department estimated Monday.
The drop was unexpected. Economists had forecast a 0.2% gain in construction spending.
April outlays were also revised lower to 0.2% drop from the 0.1% decrease previously estimated. In May, construction outlays decreased to a seasonally adjusted annual rate of $1.21 trillion, up 6% year-over-year.
10:01 AM ET 7/3/06 U.S. JUNE ISM 53.8% VS. 54.9% EXPECTED
U.S. manufacturing sector grows slower in June
By Rex Nutting / Last Update: 10:06 AM ET Jul 3, 2006
WASHINGTON (MarketWatch) -- The U.S. manufacturing sector grew at a slower than expected pace in June, the Institute for Supply Management reported Monday.
The ISM index fell to 53.8% from 54.4% in May. Economists expected an increase to 54.9%. Readings over 50% indicate expansion in the factory sector.
The new orders index rose to 57.9% in June from 53.7% in May.
The prices paid index slid to 76.5% from 77.0%.
"Although the rate of growth slowed slightly, renewed strength in June's New Orders Index provides encouragement for the third quarter," said Norbert Ore, head of the ISM's survey committee.
10:00 AM ET 7/3/06 U.S. MAY CONSTRUCTION SPENDING WEAKEST SINCE SEPT. 2004
10:00 AM ET 7/3/06 U.S. MAY CONSTRUCTION SPENDING DOWN 0.4% VS UP 0.2% EXPECTED
U.S. May construction spending down 0.4% vs up 0.2% expected
By Greg Robb / Last Update: 10:00 AM ET Jul 3, 2006
WASHINGTON (MarketWatch) - Spending on U.S. construction projects decreased 0.4% in May, the biggest decline since September 2004, the Commerce Department estimated Monday.
The drop was unexpected. Economists had forecast a 0.2% gain in construction spending.
April outlays were also revised lower to 0.2% drop from the 0.1% decrease previously estimated. In May, construction outlays decreased to a seasonally adjusted annual rate of $1.21 trillion, up 6% year-over-year.
10:01 AM ET 7/3/06 U.S. JUNE ISM 53.8% VS. 54.9% EXPECTED
U.S. manufacturing sector grows slower in June
By Rex Nutting / Last Update: 10:06 AM ET Jul 3, 2006
WASHINGTON (MarketWatch) -- The U.S. manufacturing sector grew at a slower than expected pace in June, the Institute for Supply Management reported Monday.
The ISM index fell to 53.8% from 54.4% in May. Economists expected an increase to 54.9%. Readings over 50% indicate expansion in the factory sector.
The new orders index rose to 57.9% in June from 53.7% in May.
The prices paid index slid to 76.5% from 77.0%.
"Although the rate of growth slowed slightly, renewed strength in June's New Orders Index provides encouragement for the third quarter," said Norbert Ore, head of the ISM's survey committee.
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