Thursday, April 1, 2010

U.S. Economy: Factories Drive Growth as Orders Rise (Update1) - Bloomberg.com

Factory orders are an important leading indicator.

* * * * * J B K * * * * *

San Francisco

Manufacturers are driving the U.S. economic recovery as the real estate industry struggles to recover from recession, hurting employment, reports today showed.

Factory orders rose 0.6 percent in February after surging 2.5 percent, the Commerce Department said in Washington, while businesses responding to a survey by the Institute for Supply Management-Chicago Inc. grew for a sixth straight month in March. Figures from ADP Employer Services showed an unexpected 23,000 drop in company payrolls this month, led by a slump in construction jobs.

http://www.bloomberg.com/apps/news?pid=20601068&sid=aX8QHc29VHhY