Rising Manufacturing Orders Signal Further Growth
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The U.S. manufacturing expansion accelerated in March, driven by gains in production and orders, in the latest sign that the economy is shaking off its winter doldrums and building momentum into the second quarter.
The Institute for Supply Management’s index increased to 53.7 from 53.2 a month earlier, the Tempe, Arizona-based group said today. Readings above 50 indicate expansion. The median forecast in a Bloomberg survey of economists was 54.