January 5, 2010
US manufacturing grows for 5th month
According to the data revealed on Monday, the US manufacturing sector reported a growth for a fifth consecutive month in December, also accounting for its best showing since December 2006.
This clearly reflects that the US economy is well placed on its path to a successful recovery in 2010.
However, on a different note, a separate report revealed a substantial decline in the country’s homebuilding activities for the month of November further pushing the construction spending beyond a six-year low.
The index of national factory activity of the Institute for Supply Management revealed that the figure climbed up to 55.9 in December. This was 2.3 up from the 53.6 in November.
