Unexpectedly strong report on manufacturing activity Monday bolstered confidence

[Peacetrain]

By CHRISTOPHER S. RUGABER, AP Economics Writer Christopher S. Rugaber, Ap Economics Writer – Mon Jan 4, 1:07 pm ET

WASHINGTON – An unexpectedly strong report on manufacturing activity Monday bolstered confidence that the nation's factories will help sustain an economic recovery.

The report by a private trade group signals that industrial production is likely to keep expanding in coming months, economists said. That could lead, in turn, to increased hiring and job creation.

The Institute for Supply Management, a trade group of purchasing executives, said its manufacturing index read 55.9 in December after 53.6 in November. A reading above 50 indicates growth

http://news.yahoo.com/s/ap/20100104/ap_on_bi_go_ec_fi/us_economy