Weren’t the yabberers all going on about a slow down just yesterday? Huh.
(Reuters) – The pace of growth in the manufacturing sector picked up in April to its highest level in 10 months, suggesting the economy still had some resilience after indications it had lost momentum at the start of the second quarter.
The Institute for Supply Management said on Tuesday its index of national factory activity rose to 54.8 from 53.4 in March. The figure bested expectations for a decline to 53.0 and came in above the top end of forecasts, according to a Reuters poll.
A reading below 50 indicates contraction in the manufacturing sector, while a number above 50 means expansion.