U.S. Manufacturing Probably Grew in January at Faster Pace
Bloomberg reported that manufacturing probably grew at a faster pace in January, a sign the industry will lead the U.S. expansion early this year.
U.S. manufacturing accounts for about 12% of the economy and was at the forefront of the recovery that began in June 2009.
Bloomberg noted that factory production, led by inventory rebuilding at the end of 2011, is poised to keep expanding as the need to update equipment drives orders and demand for cars lifts sales at automakers. More growth in the industry will help cushion the world’s largest economy from a slowdown in Europe caused by the region’s debt crisis.
To read the full Bloomberg report, click here.