U.S. Manufacturing Activity Unexpectedly Expands At Faster Rate

(RTTNews) - Activity in the U.S. manufacturing sector unexpectedly expanded at a faster rate in the month of April, according to a report released by the Institute for Supply Management on Tuesday, with the index of activity in the sector rising to a ten-month high.

The ISM said its purchasing managers index climbed to 54.8 in April from 53.4 in March, with a reading above 50 indicating an expansion in manufacturing activity. The increase surprised economists, who had expected the index to edge down to a reading of 53.0.

With the unexpected increase, the purchasing managers index rose to its highest level since coming in at 55.8 in June of 2011.

U.S. Manufacturing Activity Unexpectedly Expands At Faster Rate || RTT News

U.S. Personal Savings are down

(RTTNews) - With U.S. personal spending increasing at a much faster rate than personal income in the month of February, the Commerce Department released a report on Friday showing a notable drop in the personal savings rate for the month.

The report showed that personal spending rose by 0.8 percent in February following an upwardly revised 0.4 percent increase in January. Economists had expected spending to increase by 0.6 percent compared to the 0.2 percent growth that had been reported for the previous month.

U.S. Personal Savings Rate Falls To Lowest Level Since August 2009 || RTTNews