The ISM Manufacturing Index remained at 48.6 in April, above an expected decline to 48.0. New orders also remained at 46.5, and price pressures continue to build, with the index rising from 83.5 to 84.5.
Personal income rose 0.3% in March, below the estimate of 0.4%, but personal spending increased 0.4%, beating forecasts. Real spending, which is adjusted for inflation, increased just 0.1%.
Construction spending in March fell 1.1%, versus the estimate of a 0.7% drop, and February's number was revised from a loss to a gain.
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