US Manufacturing Growth Better than Expected
(WASHINGTON) — U.S. manufacturing grew for the first time in four months, thanks to new orders and more jobs, according to new data from the trade group Institute for Supply Management.
While this is a bit of good news,the data still confirms that the U.S. is in a slow recovery.
Reports out of China and Europe Monday also show better than expected manufacturing activity. Unlike the U.S., though, manufacturing there is slowing down, just not as badly as previously reported. Both Europe and China are important markets for American goods.
Markets so far are reacting well to the news: the Dow was trading up around 150 points midday Monday.
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