Economic activity in the manufacturing sector expanded in March for the 32nd consecutive month, and the overall economy grew for the 34th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business. At the same time, the Commerce Department reports a drop in construction spending. On the manufacturing side, of the 18 manufacturing industries, 15 are reporting growth in March, including machinery, miscellaneous manufacturing, wood products, fabricated metal products and electrical equipment. On the construction front, privately-owned housing starts in February were at a seasonally adjusted annual rate of 698,000. This is 1.1 percent below the revised January estimate of 706,000. Single-family housing starts in February were at a rate of 457,000, 9.9 percent below the revised January figure of 507,000.
(Image Credit: Eric Miller/Legacy Homes)