Below is part of an article put out by Bloomberg.net. Because it deals with accounts receivables, manufacturing and stabilization of the economy we have posted it here for you to read.
Manufacturing in the U.S. expanded at a faster pace than forecast in February, reaching the highest level since June 2011 as factories boosted production.
The Institute for Supply Management’s factory index advanced to 54.2, from 53.1 in January, the Tempe, Arizona-based group said today. The figures exceeded the most optimistic forecast in a Bloomberg survey in which the median projection was 52.5. A reading greater than 50 signals expansion.
Orders expanded the most in almost two years, the report showed, as manufacturers such as Applied Materials Inc. (AMAT) emerged from an industry setback in the second half of 2012. The production gains complement a rebound in the housing market and help underpin the economy amid budget disputes in Washington.
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“There is some momentum being built in manufacturing,” said Tom Simons, an economist at Jefferies Group Inc. in New York, whose forecast of 54 was the highest in the Bloomberg survey. “It’s encouraging that pent-up investment demand is finally being released after being restrained by the fiscal cliff.”
Stocks trimmed losses after the figures. The Standard & Poor’s 500 Index dropped 0.1 percent to 1,512.46 at 10:35 a.m. in New York, after falling as much as 0.9 percent earlier.
Estimates from the 81 economists surveyed by Bloomberg ranged from 50.5 to 54. The gauge averaged 51.7 in 2012 and 55.2 in 2011.
“There is some momentum being built in manufacturing,” said Tom Simons, an economist at Jefferies Group Inc. in New York, whose forecast of 54 was the highest in the Bloomberg survey. “It’s encouraging that pent-up investment demand is finally being released after being restrained by the fiscal cliff.”
Stocks trimmed losses after the figures. The Standard & Poor’s 500 Index dropped 0.1 percent to 1,512.46 at 10:35 a.m. in New York, after falling as much as 0.9 percent earlier.
Estimates from the 81 economists surveyed by Bloomberg ranged from 50.5 to 54. The gauge averaged 51.7 in 2012 and 55.2 in 2011.
Reporter who contributed to this story: Alex Kowalski in Washington at akowalski13 @bloomberg.net
Original article can be found at: Bloomberg
Original article can be found at: Bloomberg
