Wednesday, March 7, 2012

Factories growing steadily: ; Report says December increase marks 17th straight month of growth for manufacturing sector

WASHINGTON - Manufacturers produced more goods and booked moreorders last month, leading to the fastest growth in factory activitysince May.

The Institute for Supply Management said Monday that its index ofmanufacturing activity rose to 57 in December from 56.6 in theprevious month. Any reading over 50 indicates growth. The latest iswell above the recession's low of 32.5, hit in December 2008. Butit's below the reading of 60.4 in April, the highest level sinceJune 2004.

The report shows that manufacturers carried considerable momentuminto the new year. Automakers, computer and electronics companies,and industrial machinery firms showed particular …

No comments:

Post a Comment