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Third quarter estimate reflects increase in inventory investment, government spending and residential fixed investment.
Employment growth is the key to a more sustainable recovery.
The index's three month moving average declined for the first time in 2009, from -0.67 to -0.91 in October.
Panel forecasts housing starts will improve 36% in 2010.
Permits were 4% below September and 24.3% below October.
Sales in the Americas were down 15.3% for Brady.
Composite indexes point to economic recovery 'finally settling in'
Residential markets started to show signs of stabilizing during the first quarter for the distributor, while industrial and commercial markets are expected to remain 'challenging'