Ken Simonson

The producer price index for finished goods rose a seasonally adjusted 0.3% in September and 3.5% over the past 12 months, the Bureau of Labor Statistics announced.

“Construction put in place came within a whisker of setting a record in August but remains a tale of three markets,” said Kenneth D. Simonson, chief economist for the Associated General Contractors of America, the nation's leading construction trade association.

Reports in the past three days paint an unusually consistent picture of the economy: widespread expansion but not in manufacturing or inventories.

Gross domestic product grew even more strongly in the second quarter than was previously estimated-3.3% instead of 3.1% at a seasonally adjusted annual rate in real (net of inflation) terms, the Bureau of Economic Analysis reported.

Hurricane Isabel caused major disruptions from North Carolina through the mid-Atltantic region but is likely to have little long-term impact on the economy.

The producer price index (PPI) for finished goods rose a seasonally adjusted 0.4% in August, following increases of 0.1% in July and 0.5% in June, the Bureau of Labor Statistics (BLS) announced.

Private nonresidential construction eked out a small gain in July.

“Construction put in place continued to lose steam in May but is still ahead of the pace in 2002,” said Kenneth D. Simonson, chief economist for the Associated General Contractors of America (AGC), the nation’s leading construction trade association.

Construction employment rose in 35 states over the month and in 26 over the year.

Builder expectations for future home sales are now even more buoyant than early in the year.