Friday, 2 January 2015

US factories grow at slowest pace in 6 months..........

WASHINGTON: US factory activity grew at the slowest pace in six months in December, weakened by declines in orders and production. 

The Institute for Supply Management, a trade group of purchasing managers, says its manufacturing index fell to 55.5 in December from 58.7 in November. Any reading above 50 signals expansion. November's figure was just below a three-year high reached in October. 

December's reading is the lowest since June. But it is also close to the average for all of 2014, a sign factory output remains healthy. Manufacturing was a key source of growth last year. 

Despite the slowdown, a measure of employment rose, suggesting factories likely added jobs last month.