U.S. manufacturing surges
The U.S. manufacturing sector's rebound accelerated again, as an index of factory activity in December surged to it...
The U.S. manufacturing sector’s rebound accelerated again, as an index of factory activity in December surged to its highest level in two decades. The Institute of Supply Management’s Index for December 2003 registered a rating of 66.2, up from 62.8 in November 2003. The institute uses a format in which a reading above 50 indicates expansion. Prior to last year, the last time the Index had topped 60 was in 1987.
Gains in production, shipments and industry pricing accounted for the rise in the Index rating. As well, the level of unsold goods on hand at manufacturer’s customers declined, meaning new orders will have to be placed soon.