The Institute for Supply Management said its index of national factory activity rose to 53.9 from 52.7 the month before.
Also, no surprise, Krugman-type Keynesian econometricians underestimated the strength. Economists polled by Reuters expected a climb of only 53.2.
New orders, which is a leading indicator of future activity in the sector, rose to 57.6 from 56.7. The employment component also jumped to 55.1 from 51.8.
Construction spending also increased in November. The Commerce Department said spending on construction projects rose 1.2 percent in November following a revised 0.2 percent drop in October. The increase was the third in the last four months.
Bob, it looks like your forecast for 'increasing money supply will drive increasing economic activity' is coming to pass. Congratulations!
ReplyDelete... And this too shall pass.
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