Us factory growth inches upwards

MANUFACTURING growth in the US edged up this month, providing a modest boost to President Barack Obama, although labour market data released yesterday was mixed. Markit’s purchasing managers’ index (PMI) moved to 51.9 from 51.4 last month, yet seasonally adjusted initial unemployment claims rose 4,000 to 372,000. And house prices edged up 0.7 per cent in June, a separate survey revealed.