Survey: US manufacturing expands in October at fastest pace in 2½ years, despite shutdown

Published November 01, 2013

| Associated Press

U.S. factory activity expanded in October at the fastest pace in 2 ½ years, suggesting businesses kept spending last month despite the partial government shutdown.

The Institute for Supply Management, a trade group of purchasing managers, says its manufacturing index rose in October to 56.4. That's up from 56.2 in September. A reading above 50 indicates growth.

It was the fifth straight gain for the index. A measure of new orders rose slightly, while a gauge of production fell but remained at a high level. Factories added jobs, though at a slower pace than the previous month.

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http://www.foxnews.com/us/2013/11/01/survey-us-manufacturing-expands-in-october-at-fastest-pace-in-2-years-despite/