U.S. Upper Midwest factory sector grows fastest in three years

FAN Editor

December 29, 2017

(Reuters) – A gauge of factory activity in the U.S. Upper Midwest improved to the strongest level in over three years in December, led by much stronger readings on new orders and production, according a private survey released on Friday.

Marquette University and the Institute for Supply Management-Milwaukee said their seasonally adjusted index on manufacturing in the Milwaukee region rose to 65.57 this month from 59.62 in November.

The December figure was the highest since November 2014 when it was 68.9.

A reading above 50 indicates regional factory activity is expanding.

The upbeat snapshot of upper Midwest business activity coincided with a jump in a similar measure for the Chicago area.

On Thursday, MNI Indicators and ISM-Chicago said their jointly developed Chicago Purchase Management Index rose to 67.6 in December, the highest since March 2011.

The Marquette University and Milwaukee ISM survey’s component on new orders, a proxy on future activity, increased to 88.33 from 66.46 last month, while its production gauge improved to 72.65 from 57.94.

Not all the components improved in December. The survey’s employment index fell to 58.67 from 61.73, while its six-month outlook gauge slipped to 71.43 from 73.33.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)

Free America Network Articles

Leave a Reply

Next Post

What to buy every month of the year in 2018

In 2018, you may resolve to save more , spend less or budget better . Whatever your money goal, the one common key to your success is shopping smart. That means knowing the best time to buy just about anything. Continue Reading Below To help you out, we’ve created a […]