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Economic activity in the manufacturing sector returned to growth in December, according to the purchasing managers index for manufacturing released today by Institute for Supply Management. The index rose to a reading of 50.7 in December. It was a turnaround from November’s reading of 49.5, which was the lowest reading for 2012. Readings above 50 indicate growth. Reuters reported economists had expected a reading of 50.3.
The employment portion of the index rose to a reading of 52.7 in December from a reading of 48.4 in November.