Manufacturing Expands at Highest Pace Since 2006

New York, NY, Jan. 4, 2009--The U.S. manufacturing sector grew for a fifth consecutive month in December, with an index of activity hitting its highest level since April 2006, according to the Institute for Supply Management.

ISM said its index of national factory activity rose to 55.9 in December from 53.6 in November. The median forecast of 60 economists was for a reading of 54.3.

The December reading was the highest since April 2006.