U.S. manufacturing continues to expand

The U.S. industrial sector finished the year as it began it, expanding for the 19th consecutive month. The Institute for Supply Management’s main index of industrial activity rose to 58.6 in December from 57.8 in November. A reading of 50 or more in the index means the manufacturing sector is expanding. The index has been above 50 since May 2003.
A spokesman for the institute’s survey committee said the December results driven by a significant increase in the new orders index. The strong finish for 2004 is expected to provide manufacturing with strong momentum going into the first quarter of 2005.