Fresh data shows mixed bag for economy

Newly released data showing lower construction spending and increased manufacturing activity offered a mixed message to analysts. Apparently, while the U.S. economy may be emerging from recession, it is doing so in fits and starts.

The good news first: manufacturing activity rose last month for the first time in 19 months, according to a report by the Institute of Supply Management. The better-than-expected reading Tuesday revealed the highest number for the manufacturing index since June 2007. Further, the data showed new customer orders leaped to their highest levels since late 2004. While not definitive, this report gives hope that the nation is emerging from the deep recession it entered two years ago.