Manufacturing index grows to strongest level since '04

[dtotire]

Updated 4h 39m ago |



WASHINGTON (AP) — A manufacturing sector index grew for a sixth straight month in January, to its strongest level since August 2004, as factories pumped up production while their customers restocked inventories, a private trade group says.

The Institute for Supply Management said Monday that its manufacturing index read 58.4 in January, compared with 54.9 in December. December's figure was revised lower from 55.9. Analysts polled by Thomson Reuters had expected a level of 55.5. A reading above 50 indicates growth.

New orders, a sign of future growth, jumped to their strongest level since 2004.

Manufacturing has helped lead the U.S. economic recovery as companies replace depleted stockpiles, and a weak dollar boosts exports to fast-growing countries in Asia and Latin America.


continued:
http://www.usatoday.com/money/economy/2010-02-01-income-spending_N.htm

[4dsc]

1. What's left of the manufacturing sector..

Too bad this sector of our economy can no longer be relied upon to create millions of jobs.