Manufacturing grew in April at the strongest rate in 10 months, easing concerns the economy had lost momentum at the start of the second quarter.
New orders, production, and a measure of hiring all rose, according to the Institute for Supply Management. Its index of national factory activity rose to 54.8 from 53.4 in March. The figure topped expectations for the reading to decline to 53.0 and was also above the top end of forecasts in a Reuters poll.
(READ the Reuters story via the Chicago Tribune)