U.S. Manufacturing Marks Six-Month High in December
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Overall Analyst Rating:
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Dividend Yield: 0.9%
Revenue Growth %: -0.7%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.9%
Revenue Growth %: -0.7%
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Data out Tuesday showed the Institute for Supply Management’s factory index rose to 53.9 in December, a level not seen since June of 2011. The figure compares to 52.7 in November and an economist estimate of 53.5.
The Tempe, Arizona-based group cited increased demand in automobiles, stronger holiday sales and favorable inventories. ISM said debt issues from certain European markets, hostility in the Middle East and housing/unemployment in the U.S. continue to pose risks for U.S. expansion.
The manufacturing industry currently accounts for approximately 12 percent of the overall economy. A manufacturing reading above 42.5 usually indicates an overall expansion in the economy.
This morning's report also showed orders and production increased at it's fastest pace since April.
The ISM's index of prices paid rose from 45 in November to 47.5 last month. Analysts on the Street were looking for a reading of 48.0.
Underscoring the data, GM (NYSE: GM) posted 6.9 percent growth in November sales and Ford (NYSE: F) surpassed two million unit sales in the U.S., the best level since 2007.
The Tempe, Arizona-based group cited increased demand in automobiles, stronger holiday sales and favorable inventories. ISM said debt issues from certain European markets, hostility in the Middle East and housing/unemployment in the U.S. continue to pose risks for U.S. expansion.
The manufacturing industry currently accounts for approximately 12 percent of the overall economy. A manufacturing reading above 42.5 usually indicates an overall expansion in the economy.
This morning's report also showed orders and production increased at it's fastest pace since April.
The ISM's index of prices paid rose from 45 in November to 47.5 last month. Analysts on the Street were looking for a reading of 48.0.
Underscoring the data, GM (NYSE: GM) posted 6.9 percent growth in November sales and Ford (NYSE: F) surpassed two million unit sales in the U.S., the best level since 2007.
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