The ISM Manufacturing Index increased to 56.3 in August, following a decrease to 55.5 in July from the 56.2 level in June. The index indicated growth for the 16th consecutive month in the overall economy, as well as expansion in the manufacturing sector for the 13th consecutive month.
Construction Spending decreased by 1.0% to $805.2 billion during July, against the expected 0.6% decrease, after decreasing by 0.8% in June, revised from a 0.1% increase. Year over year, construction spending had declined by 10.7% from the July 2009 estimate of $901.2 billion.
Crude inventories increased by 3.4 million barrels, for the week ending August 27, from the previous week to 361.7 million barrels and were above the upper limit of the average range for that time of year. U.S. crude oil refinery inputs averaged 14.8 million barrels per day during this period, 68 thousand barrels per day below the previous week’s average. U.S. crude oil imports were averaging 9.7 million barrels per day, down by 202 thousand barrels per day from the previous week.
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