U.S. manufacturing grew slightly last month, and factory hiring increased. The modest gain suggests the economy entered the new year with some momentum.
The Institute for Supply Management said Wednesday that its index of manufacturing activity rose in December to 50.7. That’s up from a reading of 49.5 in November, which was the lowest reading since July 2009, one month after the recession ended.
A reading above 50 indicates growth, while a reading below signals contraction. The ISM is a trade group of purchasing managers.News Tribune news services