Manufacturing Activity Strenthens

In an article about increased consumer spending and strengthening manufacturing activity, the Los Angeles Times reported the index of Midwest manufacturing activity produced by the National Association of Purchasing Management-Chicago showed manufacturing activity rose in October from 62.9 to 60.5. The report on Midwest manufacturing showed a surge in new orders and a pickup in hiring. Economists said the report suggested that factories were already stepping up production in the wake of a big drop in inventories in the third quarter.

Also included in the article: consumer spending rose .5% in September after a .5% drop in August according to the Commerce Department. Unfortunately rising fuel costs countered some of that gain, so when adjusted for inflation this became a .4% decrease. Read more by clicking here.