Manufacturing News

US manufacturing reaches seven-year-high

US manufacturing activity rose at its fastest pace in more than six years last month, suggesting the US economy is set for new growth in 2011.

The Institute for Supply Management’s nationwide index rose 2.4 points in January to 60.8, which represents the highest record since May 2004.

In fact, January represented the sixth straight monthly gain for US manufacturing.

Analysts expected a dip to 58.4 from December’s 58.5, and were surprised by the growth to 60.8.

According to a report from Investors Business Daily, upbeat January U.S. auto sales from GM and others signalled strength in manufacturing and consumer spending.

Image courtesy of Investors Business Daily.

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