Factory activity grows at fastest pace in 7 years

[Kludge]

"WASHINGTON (AP) -- Factory activity expanded in January at the fastest pace in nearly seven years, as manufacturers reported a sharp jump in new orders.

Still, builders spent less on projects in December, pushing annual construction spending down to a decade low.

The Institute for Supply Management, a private trade group, said Tuesday that its index of manufacturing activity rose last month to 60.8, from 58.5 in December. The sector has expanded for 18 straight months, and January's reading was the highest since May 2004. Any reading above 50 indicates expansion.

The manufacturing sector bottomed out at 33.3 in December 2008, the lowest point since June 1980.

Rising industrial output has been a key driver for the economy since the recession ended in June 2009. Tuesday's report shows the sector is still expanding at a healthy pace.

..."

Full story @ http://hosted.ap.org/dynamic/stories/U/US_ECONOMY?SITE=OKTUL&SECTION=HOME&TEMPLATE=DEFAULT

 

[hazek]

EDIT: Whoops wrong thread.

 

[Mogambo Guru]

sorry to be a downer, but... it only took $6 of debt to create every $1 of GDP growth(2010 4Q). We sure have found our recovery...

say, did anyone else know that our biggest export to china is literally trash? (scrap metal, paper, other used raw materials)?
http://www.usnews.com/opinion/blogs...icas-biggest-trade-export-to-china-trash.html

 

[Kelly.]

sorry to be a downer, but... it only took $6 of debt to create every $1 of GDP growth(2010 4Q). We sure have found our recovery...

reference?

 

[Mogambo Guru]

reference?

per David Rosenberg article on zerohedge
http://www.zerohedge.com/article/rosie-highlights-biggest-problem-last-weeks-gdp-miss

 

[Bossobass]

That's all those tear gas canisters Mubarak ordered.

Bosso

 

[Acala]

by the way

It is important to note which manufacturing sectors are leading the recovery - health care and defense. That's not economic growth, that's inflation. When they start increasing production at factories that are building things that are being purchased for use in this country by people who are not being subsidized by government, wake me up. Until then, just remember that the Zimbabwe stock market outperformed every market in the world - until it didn't.

 

[Fox McCloud]

sorry to be a downer, but... it only took $6 of debt to create every $1 of GDP growth(2010 4Q). We sure have found our recovery...

say, did anyone else know that our biggest export to china is literally trash? (scrap metal, paper, other used raw materials)?
http://www.usnews.com/opinion/blogs...icas-biggest-trade-export-to-china-trash.html

What a marvelous plan of unsustainable action! (MPOUA), I'm sure that a quick, fast, and efficient recovery (QFER) is on the horizon in no time flat. =p

 

[georgiaboy]

just remember that the Zimbabwe stock market outperformed every market in the world - until it didn't.

Did not know that, though it makes cents (sic). For how long was this true?

 

[DamianTV]

Woohoo! The Depression is over! Now I can go work like a slave child im Malaysia for ten cents per day, when a pair of shoes still costs over a hundred bucks! I could have my very own pair shoes as soon as 2035!