U.S. Manufacturing Expanded in September |
Wall Street Journal - Oct 1, 2012 |
U.S. manufacturers rebounded in September, with fresh data Monday showing factory activity expanded for the first time in four months despite weakening economies around the globe.
The Institute for Supply Management said Monday that its purchasing managers' index—a gauge of the factory sector—rose to 51.5 in September from 49.6 in August. A reading above 50 indicates expansion. U.S. stock markets moved higher after the release.
Details in the report were encouraging, with higher readings for new orders and employment. That could point to a rise in hiring and production in coming months.
"Comments from the panel reflect a mix of optimism over new orders beginning to pick up, and continued concern over soft global business conditions and an unsettled political environment," the report said.
Good news within the U.S. ISM survey was the rebound in demand. The new-orders index rose to 52.3 from 47.1 in August. The exports index edged up to 48.5 from 47.0.
Read Full Article from Wall Street Journal
- Posted: 2012-10-01 14:56:31
More Stock Investor Place Top Stories |
|
|
|
Stock Investor Place Top Stories Archive |
|
|