Data Suggests U.S. Economy Slightly Stronger
With the new year comes new economic data. Today it’s a double dose. The Institute for Supply Management Index released data for December. Also, the government's Construction Spending figures for November are out. CNBC’s Steve Liesman sifted through the numbers and explained what they mean.
Liesman said both numbers came in a little stronger than expected.
November construction spending - down 0.2% (November) vs. down 0.3% (October)
And the ISM Manufacturing Index - 51.4 (December.) vs. 49.5 (November)
Liesman also says the ISM report suggests employment is about stable. He compared that to the recently released ADP National Employment report ( we mentioned this earlier today) which showed private-sector jobs declined by 40,000 last month, versus economists predictions for a gain of 128,000.