NEW YORK (Reuters) — U.S. factories shrugged off weakness in the global economy in November as manufacturing activity rose to its highest level in five months, a fresh sign the
Recent data on consumer spending and private-sector job creation has also boosted optimism on the pace of growth.
“The economy seems finally to be
Also pointing to growth, automakers reported U.S. sales rose 13.9 percent in November from a year earlier, Autodata Corp said.
The Institute for Supply Management said on Thursday its index of national factory activity rose to 52.7 from 50.8 the month before, beating analysts’ expectations and showing the sector continues to
The added momentum, also apparent in the report’s details, reduces the chances the U.S. economy will slip into a new recession, even with an expected contraction in the euro zone.
Compared to a dismal first half of the year, the pace of U.S. growth more than
The ISM
“That should keep some momentum going,” said Sean Incremona, an economist at 4Cast in New York. “It is good to see things are not getting worse now.”
Much of the