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U.S. Feb. ISM shows factory activity remains strong
WASHINGTON (CBS.MW) -- Factory activity in the United States slipped slightly, but remained at high levels in February, the Institute for Supply Management reported Monday.
The ISM index fell to 61.4 percent in February from the 20-year high of 63.6 percent in January.
This is the fourth month in a row the index has been above 60.
The decline was stronger than expected.
The consensus forecast of Wall Street economists collected by CBS Marketwatch was for the ISM to fall to 62.1.
New orders slowed in February, the ISM said.
New orders fell to 66.4 in February from 71.1 in January.
Prices rose sharply to 81.5 in February from 75.5 in February.
This is the highest level since February 1995. The employment index rose to 56.3 in February from 52.9 in January.

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10:01am 03/01/04 U.S. FEB. ISM NEW ORDERS 66.4% VS 71.1% IN JAN.
10:01am 03/01/04 U.S. FEB. ISM BELOW CONSENSUS OF 62.1
10:00am 03/01/04 U.S. FEB. ISM FACTORY INDEX 61.4% VS 63.6% IN JAN.
10:00am 03/01/04 U.S. JAN. CONSTRUCTION SPENDING DOWN 0.3%
10:00am 03/01/04 U.S. JAN. PRIVATE CONSTRUCTION OUTLAYS DOWN 0.5%
10:00am 03/01/04 U.S. JAN. PUBLIC CONSTRUCTION OUTLAYS UP 0.2%
10:00am 03/01/04 U.S. JAN. RESIDENTIAL CONSTRUCTION SPENDING FLAT

U.S. construction spending falls first time since May
WASHINGTON (CBS.MW) - Spending on U.S. construction projects fell 0.3 percent in January, the first decline since May, the Commerce Department estimated Monday.
Spending on private projects fell 0.5 percent in January, as outlays for residential construction were virtually unchanged while spending on nonresidential projects sank 1.7 percent, the largest decline in 13 months.
Spending on public projects rose 0.2 percent to $215.4 billion, the first increase in four months.
Total construction spending is up 5.4 percent year-over-year.
The figures are not adjusted for inflation.