December saw a continued expansion of the U.S. manufacturing sector, according to the Institute for Supply Management.
The ISM said its index of factory activity rose to 57.0% in December from 56.6% in November, the fastest pace of growth in seven months. It is also the 17th consecutive month of sector expansion. (Index readings above 50% show that more firms are growing than contracting.)
Though the number came in below the 57.5% forecast by economists, stocks held onto their triple-digit gains after the announcement.
Many forecasters are predicting a continued uptick in manufacturing this year, coinciding with the ongoing economic recovery.
Full article at http://blogs.barrons.com/stockstowatchtoday/2011/01/03/manufacturing-accelerates-in-december/
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