American manufacturing expands for the first time in four months
U.S. manufacturing grew for the first time in four months in September, buoyed by a jump in new orders. The increase was a hopeful sign that the economy is improving. The Institute for Supply Management, a trade group of purchasing managers, reports its index of factory activity rose to 51.5 last month. That’s up from 49.6 in August. A reading more than 50 signals growth and fewer than indicates contraction. The index had been below that threshold from June through August. A measure of employment also increased, suggesting manufacturers added workers last month. The increase could signal that manufacturing is picking up after a weakening this spring because of declining consumer demand and a drop in exports. The improvement in the United States comes even as growth is slowing overseas. Europe’s financial crisis has pushed many countries in the region into recession. Growth in emerging nations such as China and India has slowed. Get all the details in the full story here.
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