Posted on: Tuesday, July 2, 2002

Manufacturing rose in June

The nation's manufacturers — hardest hit by last year's recession — regained more ground in June, while construction spending fell in May to its lowest level in five months.

The Institute for Supply Management reported that its index of business activity rose for the fifth straight month to 56.2 percent in June from 55.7 percent in May. An index above 50 signifies growth in manufacturing, while a figure below 50 shows contraction.

In another report, the value of all construction projects dropped 0.7 percent in May to a seasonally adjusted annual rate of $852 billion, the Commerce Department said.