U.S. Manufacturing Probably Grew at Fastest Pace Since 2006
Story Highlights: Manufacturing in the U.S. expanded in October at the fastest pace in more than three years, a sign that factories will be the main drivers of the economic recovery in coming months.
Bloomberg: Factories in the U.S. probably grew at a faster pace, while the number of people signing contracts to buy houses showed no improvement, signaling a shift to manufacturing as the driver of the expansion, economists said before reports today.
The Institute for Supply Management’s manufacturing index rose to 53 in October, the highest level in three years, according to the median forecast of 62 economists surveyed by Bloomberg News. Another report may show pending home sales in September were unchanged, the first time since January they didn’t increase. Read full story here
ECONOMIC NEWS: Bloomberg.com
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Posted by: BBParks
