Full text of U.S. Financial Data : June 6, 2002

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June 6, 2002

USFinancialData
THE WEEK’S HIGHLIGHTS:
■ For the week ending June 1, initial claims for state unemployment
insurance benefits totaled 383,000, which was a decline of 32,000
from the previous week. The four-week moving average fell 8,500
to 411,250, its lowest level since the week ending March 23.
■ In May, the Institute for Supply Management’s (ISM) diffusion
index of manufacturing activity rose to a more-than two-year high
of 55.7 percent. According to the ISM, an index value above 42.7
generally indicates positive growth for the U.S. economy. The ISM
also reported that its diffusion index of economic activity in the
nonmanufacturing sector rose 4.8 percentage points in May to 60.1
percent; the May index was the highest since August 2000. The ISM
reported that, compared with April, 13 of 16 nonmanufacturing
industries reported increased business activity in May.
■ After falling $6.9 billion in March, real construction spending rose
$0.1 billion in April. Private construction spending rose 0.5 percent
in April, the fifth consecutive monthly increase, while public construction spending fell 1.6 percent, the second consecutive decline.
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All data are seasonally adjusted unless otherwise indicated.
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