U.S. manufacturing expanded slightly last month
WASHINGTON – U.S. manufacturing grew slowly last month after shrinking in November and hiring increased. The modest gain suggests the economy entered the new year with some momentum.
The Institute for Supply Management said Wednesday that its index of manufacturing activity rose to 50.7 in December from 49.5 in the previous month. November's reading was the lowest reading since July 2009, one month after the recession ended.
A reading above 50 signals expansion.
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