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US Economy: Construction and Hiring are Up, Consumers Buying Cars

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A new report from Businessweek shows encouraging signs in the US economy. Within the last two weeks, a report about 103,000 increase in payrolls has prompted economic advisers to increase projected growth. Consumers are buying cars and builders are building.

The 103,000 gain in September payrolls announced by the Labor Dept. was more than economists had forecast and followed an upwardly revised gain of 57,000 for August. Private employment climbed 137,000. (That number included the return of 45,000 striking workers at Verizon Communications (VZ).)

The latest numbers bring the jobs data in line with other encouraging statistics. Construction spending rebounded in August, propelled by the biggest jump in state and local government outlays in more than two years. Manufacturing accelerated in September, helped by gains in exports and production.

[ via Businessweek ]

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