Manufacturing activity rises to 7-month high

Manufacturing activity expanded for a 17th month in a row in December, rising to the highest level in seven months, a purchasing managers' group said Monday.

The Institute for Supply Management's index for manufacturing activity ticked up to 57 in December. That's the highest reading since May and up from 56.6 in November.

The reading came in slightly lower than the 57.3 level expected by a Briefing.com consensus of economists. Any reading of more than 50 indicates expansion in the sector, and the index has remained above this mark for 17 consecutive months.

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- Posted: 2011-01-03 13:47:48

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