US Manufacturing Expands At Faster Pace In October
Source: Associated Press
WASHINGTON WASHINGTON (AP) - U.S. manufacturing expanded for the second straight month in October, boosted by growth in new orders and production.
The Institute for Supply Management says its index of factory activity rose last month to 51.7, up from September's reading of 51.5. A reading above 50 indicates expansion.
The ISM is trade group of purchasing managers. Previous surveys showed manufacturing contracted from June through August.
Stocks jumped after the release of the October report, along with another showing consumer confidence surged last month to the highest level in nearly five years. The Dow Jones industrial average, which had already risen about 70 points after the opening bell, was up 139 points in morning trading.
Read more: http://www.vcstar.com/news/2012/nov/01/us-manufacturing-expands-at-faster-pace-in/
OKNancy
(41,832 posts)Dow up 147 as of the time I'm posting
Berlum
(7,044 posts)Kingofalldems
(38,444 posts)You must be happy about this one.
SleeplessinSoCal
(9,110 posts)Scarborough duking it out with Nate Silver and so much more.
stillcool
(32,626 posts)good news is definitely bad news. But then, bad news is worse..I think.