May 1 - New, stronger-than-expected data on the U.S. manufacturing sector could prove to be a turning point in the U.S. economic picture. Bobbi Rebell reports.
New signs the U.S. manufacturing sector may be coming out of the lull its been in for the past couple of months. The Institute for Supply Management's April index came in at 54.8 - ahead of forecasts- and the strongest showing since June. New orders were up as well. Coming off a disappointing purchasing managers report earlier in the week- the news helped pull stocks out of negative territory and post solid gains. A separate government report showed softness in construction spending in March- it barely rose in March as investment in public projects dropped to a 5 year low. Bobbi Rebell, Reuters.