Industrials Climb Amid Strong Data - Industrials Roundup

Shares of manufacturing and transportation companies rose amid solid economic data. The U.S. factory sector posted one of its best months of expansion in December as sales hit a 14-year high, the latest sign economic growth is picking up. A key manufacturing index rose 1.5 percentage points from a month earlier to a reading of 59.7 in December, the second-highest level since early 2011, the Institute for Supply Management said. A subindex of new orders-a measure of sales at factories-rose more than 5 points to 69.4, the highest since early 2004. Readings above 50 indicate growth, while readings below 50 indicate contraction. Separately, total U.S. construction spending rose 0.8% in November from October to a seasonally adjusted annual rate of $1.257 trillion, the Commerce Department said. Economists surveyed expected a 0.5% increase in November. Meanwhile, foreign makers of products including washing machines and solar panels are ramping up shipments to the U.S. ahead of government decisions on whether to erect new barriers, trade data show. (Amy.Pessetto@wsj.com)

(END) Dow Jones Newswires

January 03, 2018 17:20 ET (22:20 GMT)