HEADLINES: U.S. construction spending reaches 4-½ year high. - TopicsExpress



          

HEADLINES: U.S. construction spending reaches 4-½ year high. August construction spending increased 0.6%, the highest level since April 2009, largely because of a rise in public construction projects. Consumer sentiment drops after government shutdown. Sentiment among U.S. consumers dropped in October to its lowest level since the Fiscal Cliff days as Americans worried about congressional dysfunction. Consumers also also worried about how the budgetary impasse may have affected fourth-quarter growth. Wholesale inventories rose in August. Inventories rose 0.5% in August, the biggest jump since January, indicating that business experienced a robust summer shopping period. Inventory growth was boosted by increases in stocks of autos and professional equipment. UK economy grows at fastest pace since 2010. Britain’s economy picked up speed in the third quarter, growing 0.8%, driven by growth in the services sector and rising housing prices. The unexpected growth gives Britons hope that their economic recovery is picking up steam.
Posted on: Tue, 29 Oct 2013 15:38:15 +0000

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