Superstorm Sandy boosted U.S. manufacturing in November
Monday, December 03, 2012 9:38 AM
Rising demand from domestic and foreign customers helped U.S. manufacturing grow in November at its quickest pace in six months, an industry survey showed today, though hiring remained sluggish, Reuters reported. Financial information firm Markit Group LTD. said its U.S. Manufacturing Purchasing Managers Index rose to 52.8 last month, rebounding from a more than three-year low of 51 in October. A reading above 50 indicates expansion. Firms said Hurricane Sandy, which hit in late October, was partly responsible for a jump in domestic new orders, suggesting the pace of growth could slow in the months ahead. Read more.