Automakers on Monday reported strong U.S. vehicle sales for the month of July, driven by continued demand for trucks and sport-utility vehicles amid an improving economy, lower gas prices and easy availability of credit. Detroit's Big Three - General Motors Co., Ford Motor Co. and FCA US, LLC - all reported vehicle sales above analyst expectations.
Activity in the U.S. manufacturing sector unexpectedly grew at a slower rate in the month of July, the Institute for Supply Management revealed in a report on Monday. The ISM said its purchasing managers index dipped to 52.7 in July from 53.5 in June.
Construction spending in the U.S. increased by much less than expected in the month of June, according to a report released by the Commerce Department on Monday. The report said construction spending inched up by 0.1 percent to an annual rate of $1.065 trillion in June.