U.S. factories rebound, but consumer sentiment shaky |
| National Post - Nov 21, 2012 |
U.S. manufacturing grew in November at its quickest pace in five months, with a rise in domestic demand suggesting factories could provide a boost to economic growth in the fourth quarter.
Other data on Wednesday showed a drop in new claims for jobless benefits, although they remained elevated due to superstorm Sandy, and only a marginal improvement in consumer sentiment.
Financial information firm Markit said its U.S. “flash,” or preliminary, manufacturing Purchasing Managers Index rose to 52.4 from a three-year low of 51.0 in October. A reading above 50 indicates expansion.
Output in the factory sector and domestic new orders also grew at their fastest pace since June, while the pace of hiring in the factory sector was the swiftest in four months.
Read Full Article from National Post
- Posted: 2012-11-21 16:01:22
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