U.S. Factory-Sector Activity Hits 13-Year High

U.S. Factory-Sector Activity Hits 13-Year High

The Institute for Supply Management said Monday that its index of manufacturing activity climbed to 60.8 last month from 58.8 in August, marking a 13-year high. A reading above 50 indicates sector expansion as measured by factors such as sales, output and hiring. This output exceeded most economists projections, suggesting that the factory sector has weathered the severe hurricane season and damages brought by Harvey, Irma and Maria. “The economy appears to have taken the punch and rolled with it,” Ian Shepherdson, chief economist at Pantheon Macroeconomics, said of the storm disruption.

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