US shows Manufacturing surge
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Money News |
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US shows Manufacturing surge
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Its monthly gauge of the nation's industry jumped to 38.8 per cent in January from a revised 30.3 per cent in December, far above economists' forecasts of a dip to 29.5 per cent.
It was the index's highest level since January 1984.
"There's no question the economy is on the march," said Robert Dederick, of RGD Economics in Chicago.
The New York Federal Reserve also reported a record figure.
Its Empire Manufacturing survey rose to 39.2 per cent for January - the ninth straight increase in a row.
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