Factory data, construction spending show solid growth
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US factory activity accelerated to a two-year high in December amid a surge in new orders and employment, suggesting some of the oil-related drag on manufacturing was fading.
Other data on Tuesday showed construction spending hitting a 101/2-year high in November, which could provide a lift to fourth-quarter economic growth. The reports suggested president-elect Donald Trump was inheriting a strong economy, marked by a labour market that is near full employment, from the Obama administration.
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