Following a one-month contraction, economic activity in the U.S. manufacturing sector expanded in December, and the overall economy grew for the 43rd consecutive month, according to a survey of the nation’s supply executives in the latest Institute of Supply Management Report on Business.
The monthly purchasing manager’s index for manufacturing registered 50.7%, an increase of 1.2 percentage points over November’s reading of 49.5%, the third monthly increase in the past seven months.
“This month’s PMI reading moved manufacturing off its low point for 2012 in November,” noted Bradley J. Holcomb, chairman of the ISM’s Manufacturing Business Survey Committee. “The New Orders Index remained at 50.3%, the same rate as in November, indicating growth in new orders for the fourth consecutive month.”
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