Economic reports Tuesday paint an upbeat picture of the U.S. construction and manufacturing sectors.

December's data shows U.S. factories expanding at the fastest pace in six months. Manufacturing has been a strong spot in the faltering U.S. economic recovery.

A separate Commerce Department study shows construction spending rose more than 1 percent in November, the third gain in four months. While the gain is more than most economists predicted, it still leaves spending on new homes and other buildings far below the level seen in a healthy economy.

Severe problems in the U.S. housing market played a key role in the recent economic crisis.

Top officials from the U.S. central bank say they are going to give more frequent and more detailed information on future changes in interest rates. The additional details are an effort to reassure investors and lenders in the hope of keeping interest rates low, and the economy growing.

The Fed's decision came several weeks ago at the most recent meeting of the Federal Reserve, but was not published until Wednesday.