U.S. manufacturing sector grows for 17th straight month in December

08:54, January 04, 2011      

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The U.S. manufacturing sector grew for the 17th consecutive month in December, fresh evidence of the ongoing economic recovery, a leading industry survey showed on Monday.

The U.S. Institute of Supply Management (ISM) manufacturing index, also known as the purchasing managers index, stood at 57 percent in December, higher than the reading of 56.6 percent in November. A reading above 50 percent indicates an expanding manufacturing sector.

Of the 18 U.S. manufacturing industries, 11 reported growth in December, including apparel, machinery, transportation equipment, electrical equipment and chemical products.

The U.S. economic growth was revised upward to an annual rate of 2.6 percent in the third quarter of 2010, according to U.S. Department of Commerce figures.

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