Manufacturing in U.S. Expands More Than Forecast

Manufacturing expanded in January at the fastest pace since August 2004, spearheading the U.S. recovery from the worst recession since the 1930s.

Factories are stepping up production as stimulus-fueled gains in demand and record cutbacks in inventory boost orders. After job cuts of 7.2 million in the last two years, some companies such as Ford Motor Co. are beginning to hire again, laying the groundwork for sustained gains in spending.

“Manufacturing is growing, it’s going to continue to expand,” said Hugh Johnson, who manages more than $1.6 billion as chairman of Albany, New York-based Johnson Illington. His forecast of 58 was highest in the Bloomberg survey. “Whether or not this continues to unfold will depend very heavily on final demand.”

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- Posted: 2010-02-01 11:08:11

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