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U.S. ISM Manufacturing Index Rose to 57.3 in November

Manufacturing in the U.S. unexpectedly accelerated in November at the fastest pace in more than two years, indicating factories will be a source of strength for the economy heading into 2014.

The Institute for Supply Management’s index rose to 57.3, the highest since April 2011, from 56.4 a month earlier, the Tempe, Arizona-based group’s report showed today. Readings above 50 indicate growth. The median forecast in a Bloomberg survey of economists was 55.1.