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US manufacturers hit 20-year record pace
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| Contributor | Eddie |
| Last Edited | Eddie Dec 01, 2003 11:40am |
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| Category | News |
| Media | Website - Yahoo News |
| News Date | Monday, December 1, 2003 06:00:00 AM UTC0:0 |
| Description | US manufacturing activity unexpectedly shot to a 20-year record in November as factories hired workers to belt out goods for the runaway economy, a survey showed.
"The manufacturing sector enjoyed its best month since December 1983," said survey chief Norbert Ore.
Factories finally took on workers after more than three years of job cuts, bucking up the overall industry barometer.
Among key findings:
-- Output accelerated, with the production index soaring 5.7 points from October to 68.3 in November, the seventh month of growth.
-- New orders soared, with the index leaping 9.4 points to 73.7 in November, the highest since December 1983. The backlog of orders index jumped 5.5 points to 59.0.
-- Jobs grew, reversing 37 consecutive months of decline, with the employment index up 3.3 points to 51.0. |
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