- The Federal Reserve as expected increased the federal funds rate for the twelfth time by a quarter-percent to 4.00%. Signaling that more increases were likely to keep a lid on inflation.
- The Institute of Supply Management's index of manufacturing activity fell to 59.1 from 59.4 in September, which was the highest in 13 months. Still a sign of expansion and stronger than expected.
- The U.S. Commerce Department said that construction spending was at an annual rate of $1.12 trillion in September, up 0.5% from August and a new record high.
- Florida Citrus Mutual said that an early estimate indicates that 13% of the Florida orange crop was damaged by Hurricane Wilma.
- George W. Bush asked Congress for $7.1 billion in emergency funding on Tuesday to prepare the United States for a feared avian-influenza pandemic
- World merchandise trade in volume terms is predicted to accelerate by around 7% in 2006, slightly up on this year’s projected increase of 6.5%, the World Trade Organisation said.
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