Manufacturing Up
While the apparel industry continued to struggle with domestic manufacturing, other industries experienced a surge in local production as U.S. factories cranked up output in May, supporting reports that the economy is gathering speed. Factory employment jumped to its highest level in 31 years, marking a full year of recovery. The Institute for Supply Management, based in Tempe, Ariz., said its index of national factory activity rose to 62.8 in May from 62.4 the prior month, beating expectations of a small decline to 62.0. The index was not far off its two-decade high of 63.6, reached in January.
