Two reports released today offer a mixed view of the U.S. economy. Manufacturing activity picked up in December, but construction spending declined in November.

The Institute of Supply management said its index of U.S. manufacturing activity came in at 58.6, up from 57.8 in November. Economists had forecast the index to rise to 58.5.

Any reading over 50.0 is an indication of growth in the sector.

The December reading marked the 19th straight month of growth in manufacturing.

In a separate release, the U.S. Commerce Department said construction spending declined in November by 0.4%, the first drop in 10 months, as private builders reined in spending on residential and commercial projects.

The reading was somewhat of a surprise. Economists had forecast a 0.5% rise in spending on building projects.

On a positive note, construction activity in October turned out to be significantly stronger than initially thought. Revised figures showed that spending in October rose by 0.3%, compared with a flat reading first reported.