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Spending on construction projects fell for a fourth month in a row in June, declining 0.7% compared to the 1.3% expected increase. Both residential (-1.5%) and public construction (-0.7%) declined, which leaves overall construction flat over the past year.
PMI and ISM Manufacturing Indices
The improvement in Markit’s Manufacturing Purchasing Manager’s Index waned in July after the reopening recovery it saw in June, rising from 49.8 to 50.9, but it finally indicates very modest growth. For the first time since February operating conditions improved with output and new orders rising. Input prices rose