US factory output increased at its fastest pace in seven years in February US manufacturing output grew last month, boosted by a weak dollar that made American goods cheaper overseas.
The sector expanded to a higher-than-expected level of 60.4 in April, down from 61.2 the previous month, said the Institute for Supply Management (ISM).
Any value above 50 indicates growth in the manufacturing sector.
Factory output remains strong despite high oil prices, a sign that the economy could be recovering from recession.
“The economy is not falling apart, despite the spike in oil prices,” said Joel Naroff, an economic advisor in the US.
“Firms are hiring, adding to inventories, seeing demand rise and exporting. Those are not signs of malaise.”
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