September 2014 Industry News

US Manufacturing Activity Holds Near Four and a Half Year High

NEW YORK Tue Sep 23, 2014 11:15am EDT


(Reuters) - U.S. manufacturing activity hovered at a near 4-1/2-year high in September and factory employment surged, supporting views of sturdy economic growth this quarter.

The growth picture was also boosted by other data on Tuesday showing an acceleration in services industry growth this month.

Financial data firm Markit said its preliminary or "flash" U.S. Manufacturing Purchasing Managers Index was at 57.9, unchanged from August's reading when it touched its highest level since April 2010.

A reading above 50 signals expansion in manufacturing, which accounts for about 12 percent of U.S. economic activity.

Factory employment increased for a second straight month, with a gauge of labor market conditions touching its highest level since March 2012....Continue reading...