U.S. factory index reaches 29-month high

10/1/2013 | Bloomberg

A reading of U.S. manufacturing revealed growing strength last month, spread across a wide array of sectors. The Institute for Supply Management's factory index of 56.2 was up from 55.7 in August and the highest reading since April 2011. "You're beginning to see a pickup in investment and stronger construction activity from the housing recovery, and those are important," said Paul Ashworth, chief U.S. economist at Capital Economics in Toronto.

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