U.S. and Chinese manufacturing heat up in April

The global economic recovery appeared on track in April as the pace of growth in American and Chinese manufacturing picked up, shrugging off headwinds from the European debt crisis.

The private Institute for Supply Management said on Tuesday its index of U.S. national factory activity rose to 54.8 last month, beating expectations.

Growth in the U.S. economy cooled in the first three months of the year, raising concerns the recovery from the 2007-2009 recession was entering a bumpy patch.

Tuesday's data allayed some of those worries, and an increase in the ISM's employment index raised hopes a report on Friday would show strong job creation last month in the United States.

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- Posted: 2012-05-01 10:59:42

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