US manufacturing picks up while consumption slows

The US economy is showing signs of rebalancing away from consumer spending towards manufacturing, data suggests.

Expansion of the US manufacturing sector sped up unexpectedly in October, thanks to strong new orders and exports, and slow imports.

But growth in consumer spending slowed to a crawl in September, while personal income fell unexpectedly.

Meanwhile, construction spending rebounded, driven by government investment, but remains very weak.

Read Full Article from BBC News

- Posted: 2010-11-01 13:21:39

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