Gains in U.S. factory output may forecast wider economic recovery



The U.S. manufacturing industry continued its expansion for the 17th consecutive month in December, reaching its highest level since May of 2010.

The Institute for Supply Management's index of manufacturing activity reached 57 in December, up from 56.6 the previous month. Although the figures did not reach the slightly higher projections from economists surveyed by Briefing.com, the gains still spell good news for economic outlooks in 2011.

"We saw significant recovery for much of the U.S. manufacturing sector in 2010," said Norbert Ore, chairman of the ISM Manufacturing Business Survey Committee. "The recovery centered on strength in autos, metals, food, machinery, computers and electronics, while those industries tied primarily to housing continue to struggle."

The ISM report comes a week after similar improvements in Texas' factory output. The Lone Star State is one of the largest manufacturing economies in the U.S., suggesting the gains, along with improvements in small business borrowing, may presage more LLC formation in Texas.

Tags : form an llc, small business management, tx
Posted: Jan 4th, 2011
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