A measure of U.S. manufacturing expanded in December at the fastest pace in more than two years, bolstered by a pickup in new orders and the strongest growth in production since 2011.
A gauge of factory activity unexpectedly increased to 60.7 from 57.5 a month earlier, according to Institute for Supply Management data released Jan. 5. Readings above 50 indicate expansion and the figure exceeded all estimates in a Bloomberg survey of economists.
