US Manufacturing Gauge Tops Estimates as Jobs, Orders Rebound
December 03, 2018 / IndustryWeek
The factory gauge remains elevated, signaling that corporate tax cuts and consumer strength continue to drive demand and expansion. A gauge of U.S. manufacturing rebounded in November as new orders picked up and companies added workers, indicating that factories remain relatively healthy in the fourth quarter.
The Institute for Supply Management index, from a survey that aims to capture manufacturing business conditions, increased to 59.3 from 57.7, data showed Monday. The rise from a six-month low also exceeded estimates in a Bloomberg survey calling for the gauge to edge down to 57.5. Readings above 50 indicate expansion.