U.S. Economy: Factory Index Rises to Five-Month High

Manufacturing in the U.S. expanded at the fastest pace in five months in October, pointing to renewed strength in the industry that led the nation out of recession.

The Institute for Supply Management’s factory index increased to 56.9 from 54.4, the Tempe, Arizona-based group said today. Readings greater than 50 signal growth. Consumer spending rose less than forecast in September and incomes dropped for the first time in more than a year, data from the Commerce Department also showed.