The nation's manufacturing sector expanded in December, reversing a contraction a month earlier, a trade group said today.
The Institute for Supply Management said its manufacturing index registered 51.4 in December, compared with 49.5 in November, which was the first time the sector's activity shrank since April 2003.
A reading below 50 indicates contraction.
December's index came in above the average analyst expectation for a reading of 50, or no change in the sector's output.
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The manufacturing sector had grown for 41 consecutive months prior to November, but falling home prices, high energy prices and other factors conspired to reduce industrial activity.