US factories raise output

Tim Wallace
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MANUFACTURING output in the US grew at its fastest pace since January last month, a business survey from Markit showed yesterday.

The purchasing managers’ index rose from 51.8 in October to 54.7 in November, showing an acceleration – a figure above 50 shows expansion.

“We are seeing a surge in the production of capital goods – this is a great sign companies are feeling sufficiently confident to be boosting investment,” said Markit economist Chris Williamson.