Factory, construction spending data hint at slowing economy

By Lucia Mutikani NEW YORK (Reuters) – U.S. manufacturing task slowed sharply in January on the back of the biggest drop in new orders in 33 years whereas development spending barely rose in December, pointing to a few loss of steam within the economy. The Institute for Supply Management (ISM) said its index of nationwide factory task fell to 51.three final month, its lowest level in view that May 2013, from fifty six.5 in December.