News Summary: US manufacturing grew in September

Monday - 10/1/2012, 1:15pm EDT

By The Associated Press

(AP) - FACTORY REBOUND: U.S. manufacturing grew for the first time in four months, buoyed by a jump in new orders and more jobs. The Institute for Supply Management, a trade group of purchasing managers, said Monday that its index of factory activity rose to 51.5, up from 49.6 in August.

GOOD SIGN: The increase is a hopeful sign that the economy may be improving after a weak stretch. A reading above 50 signals growth and below indicates contraction.

STILL SLOW: Economists welcomed the increase, though most still forecast slow economic growth below 2 percent for the rest of this year.


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