Published data on the record increase in construction costs
WASHINGTON – manufacturing activity in the U.S. in December grew more than expected owing to the increasing numbers of new business that was another Testament to the improved state of the economy at the end of 2017.
On the state of the economy is also evidenced by other published data reflecting the increase in construction costs to record levels in November in the growth of private and public investment. Given the optimistic forecasts, economists expect the fed in March, will again raise interest rates, triple the increase last year.
“A good performance in the industrial and construction sectors confirm that the US economy at the end of the year worked at full capacity, said a senior economist at BMO Capital Markets in Toronto Sal, Guatieri. – The fed continues to keep raising rates in March and two more increases this year, with a possible risk increase in case growth does not slow down”.
According to the Institute for supply management (Institute for Supply Management, ISM), manufacturing activity in the country last month rose to 59.7 percent, from 58.2 percent in November. A reading above 50 percent indicates expansion in industry, which accounts for about 12 percent of economic activity in the United States. Businesses also reported an increase in the number of orders.
As expected, the weakening of the dollar and strengthening global economy will increase exports of American goods that will sposobstovat further strengthen the industry.