U.S. Manufacturing Index Reaches Eight-Month High

Manufacturing in the U.S. rose for the third month in a row, reaching an eight-month high.

According to the Institute for Supply Management, its manufacturing index went up 54.1% in December. Readings above 50% shows expansion.

This was the third time in a row the index grew. It was also the highest the index has gone over the last eight months. 

Used as an indicator of future demand, the new order index also rose to 57.6%. 

Despite the gains, ISM's employment index went from 54.8% down to 54.3%, and the price index which measures the cost of raw materials rose.

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