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U.S. manufacturing growth accelerates

TEMPE, Ariz. (UPI) -- The Institute of Supply Management said U.S. manufacturing activity rose for the third consecutive month in October.

The Purchasing Mangers Index, which shows growth when the figure breaches 50, rose from 52.6 in September to 55.7.

For the headline index, October marked three months of growth after 18 consecutive months of contractions.

New orders stayed positive, although growth slowed from 60.8 a month ago to 58.5. The production index increased from 55.7 to 63.3. Inventories shrank for the 42nd consecutive month although the contraction slowed from 42.5 to 46.9.

The employment index showed growth for the first time in 14 months with the index rising from 46.2 to 53.1.

Three out of 18 industries showed activity contracting in October, including non-metallic mineral products, primary metals and wood products.

Copyright 2009 by United Press International

This news arrived on: 11/02/2009

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