Overall tone of US economic data remains upbeat - Westpac

Analysts at Westpac noted that the overall tone of US economic data remains upbeat. 

Key Quotes:

"The ISM’s national manufacturing survey printed at a bullish 59.1 in January, sentiment boosted by the corporate tax cuts and a weak US dollar."

"Construction spending rose 0.7% in Dec."

"Following the data, the Atlanta Fed upgraded its model prediction for Q1 GDP from 4.2% to 5.4% (annualised)."