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US factory activity grows
http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/business/2012/January/business_January54.xml§ion=businessSteven C. Johnson (Agencies)
4 January 2012
NEW YORK - Manufacturing activity grew at its fastest pace in six months in December to cap off a late-year rally in the sector, while a rise in new orders suggested decent momentum in 2012, an industry report showed on Tuesday.
The Institute for Supply Management (ISM) said its index of national factory activity rose to 53.9, its best showing since June, from 52.7 in November. The reading topped expectations of 53.2, according to a Reuters poll of economists. A reading above 50 indicates expansion.
“It’s a pretty decent report overall,” said Tom Porcelli, chief US economist at RBC Capital Markets in New York. “We’re not roaring ahead here but it’s also not collapsing. That’s consistent with our overall view of the economy in 2012.”
New orders, which economists consider a leading indicator of future activity in the sector, rose to 57.6 from 56.7, while the employment component jumped to 55.1 from 51.8.
