US manufacturing grows for 1st time in 4 months
from The Associated Press via ABC News
U.S. manufacturing grew for the first time in four months, buoyed by a jump in new orders and more jobs. The increase is a hopeful sign that the economy may be improving after a weak stretch. The Institute for Supply Management, a trade group of purchasing managers, said that its index of factory activity rose to 51.5. That's up from 49.6 in August. A reading above 50 signals growth and below indicates contraction. The index had been below that threshold from June through August. The reading "will boost hopes that some of the recent slowdown in economic growth was just a summer phenomenon," Paul Dales, an economist at Capital Economics, said in a note to clients.
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