Economy Watch *DO NOT USE*

Room rates at Marriott International properties in North America showed an increase in May for the frist time in more than two years. According to the company, the increase was all of 1 percent compared with the same month in 2009, but an increase of any kind is a rare bird in the hospitality business these days.

The official employment numbers might not have been terrific, but the Conference Board reported on Monday that its Employment Trends Index increased again in May for the ninth straight month. The index now stands at 95.7, up from April’s revised figure of 95.2, and up almost 9 percent from a year ago.

Manufacturing, for instance, added 29,000 positions in May. Since the beginning of 2010, the sector has added 126,000 jobs. Odd strength for such a long-suffering sector, but jobs are jobs at this point.

On Thursday, Thomson Reuters’ survey of 28 major U.S. chain stores found that they posted a 2.5 percent year-over-year increase in same-store sales in May.

The National Association of Realtors Pending Home Sale Index rose to 110.9 based on contracts signed in April, up from 104.6 in March. Compared with April 2009, the most recent index looks even better, since a year ago it stood at an anemic 90.6.

Construction spending unexpectedly spiked 2.7 percent in April compared with March, according to the U.S. Department of Commerce on Tuesday.

According to Freddie Mac on Thursday, the average rate offered on 30-year fixed-rate home loans sank to 4.78 percent this week, down from 4.84 percent the previous week. Last week’s low was also within spitting distance of the record low of 4.71 percent set during late 2009.

For the third month in a row, consumer confidence is up.

“Exactly a year ago, economists were blindsided by first quarter GDP growth data staying near half-century lows, following a London G20 conference where the D-word — depression — dominated discussions,” noted a report by the Economic Cycle Research Institute (ECRI) over the weekend. “That’s when ECRI warned publicly that the recession would end by summer.”

Now the matter goes to a House-Senate conference committee to reconcile the two versions. The U.S. House passed its version late last year.