UPDATED: 1/3/2012 10:50:00 AM Write a Letter to the Editor Write a letter to the Editor ISM Manufacturing Index Hits 6-Month High
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December U.S. manufacturing activity rose to the highest level since June, the Institute for Supply Management said Tuesday.
ISM’s monthly factory index rose to a reading of 53.9, from 52.7 in November, the group said in its monthly report. Figures over 50 indicate expansion.
December marked the index’s 29th straight month of expansion and the reading surpassed economists’ projections of a rise to 53.8, Bloomberg reported.
“Manufacturing finished the year on a positive note, with new orders, production and employment all growing in December at faster rates than in November, and with an optimistic view toward the beginning of 2012,” said Bradley Holcomb, chair of ISM’s manufacturing committee.
ISM’s factory index measures manufacturing components of the economy.