Manufacturing Expands in December, Construction Spending Falls

The US manufacturing sector expanded during December, with the Institute for Supply Management’s PMI coming in at 55.5%. However, December’s reading was lower than seen in November, and lower than analysts expected.

Construction spending during November also fell to a seasonally adjusted annual rate of $975 billion - a drop of 0.3%, according to the US Commerce Department. The rate was lower than economists predicted.

There is good news for small businesses, however. Stronger sales during the second half of 2014 have boosted optimism for 2015 among small business owners. About half of small business owners expect the economy to continue to improve this year.

General Motors has already announced 3 new recalls since the start of 2015. About 83,500 SUVs and pickup trucks are included in the new round of recalls, which are due to ignition switch issues.


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