CONSTRUCTION SPENDING INCREASES AGAIN

CNBC reports that the ISM index for manufacturing remains high though lower than the moneth before:

The Institute for Supply Management's index registered 58.7 in October, slightly better than the 58.6 expected from economists polled by Reuters. That represents a decline from September's 59.8, which was the highest reading for the service sector index since August 2005, according to ISM.

Construction Spending:
U.S. construction spending unexpectedly rose in September as a surge in public construction outlays offset the third straight monthly decline in investment in private projects.
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The Commerce Department said on Wednesday that construction spending increased 0.3 percent to $1.22 trillion. But August's construction outlays were revised down to show a 0.1 percent gain instead of the previously reported 0.5 percent rise.

Economists polled by Reuters had forecast construction spending unchanged in September. Construction spending increased 2.0 percent on a year-on-year basis.

Although public spending has risen, industrial spending has yet to rise.  Industrial spending has been the biggest drag on GDP.

https://www.cnbc.com/2017/12/15/us-industrial-production-nov-2017.html
https://www.cnbc.com/2017/11/01/october-ism-nonmanufacturing-index-september-construction-spending.html