Construction and Manufacturing Reports Hint to Strengthening 3rd Quarter, NYT reports

According to The New York Times, American construction spending rebounded strongly in July.

Furthermore, American manufacturing activity hit its highest point in nearly three and a half years last month, hinting to an economy that has entered the third quarter on strong footing. For construction, a report from the Commerce Department showed that construction spending increased 1.8 percent in July to its highest point in five and a half years. This was also the largest monthly gain since May 2012.

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