US factory activity accelerates in Dec

US factory activity rose more than expected last December, the latest sign of strong US economic momentum, according to data released by The Institute for Supply Management (ISM) on Wednesday. “Economic activity in the manufacturing sector expanded in December, and the overall economy grew for the 103rd consecutive month,” said ISM. The surveybased index of national factory activity rose to a reading of 59.7 in December, beating market expectations, and represented the second-highest reading in six years. The latest data brings the average reading in 2017 to 57.6, the highest level in 13 years.