Saturday, Apr 25, 2015Saturday, Apr 25, 2015

US factory activity rebounds this month, survey says

Published on Nov 21, 2012 10:06 PM

NEW YORK (REUTERS) - US manufacturing grew this month at its quickest pace in five months, bolstered by a rise in domestic demand, an industry survey showed on Wednesday.

Financial information firm Markit said its US "flash", or preliminary, manufacturing purchasing managers' index rose to 52.4 from a three-year low of 51 last month. A reading above 50 indicates an expansion.

Output in the sector and domestic new orders also grew at their fastest pace since June, while the pace of hiring in the factory sector was the swiftest in four months.

Some respondents said efforts to rebuild after Hurricane Sandy ravaged the US East Coast late last month might have accounted for some of the increased demand.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!