Wednesday, June 25, 2014
Markit: U.S. manufacturing grows at highest rate in 4 years
The U.S. manufacturing sector grew faster than expected in June, with the rate of growth and key sub-indexes reaching their highest levels in more than four years, an industry report indicated Monday.
Financial data firm Markit said its preliminary U.S. Manufacturing Purchasing Managers Index rose to 57.5 in June, the highest reading since May 2010. The flash PMI was also above the predictions of economists polled, which averaged 56.5. In May, the reading was 56.4. Any number above 50 indicates economic growth.
The output sub-index in June jumped to 61 and new orders rose to 61.7. Both marked the highest level for the indexes since April 2010.
For more of the Reuters story: chicagotribune.com
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