Manufacturing in the U.S. Expanded at a Faster Pace than anticipated.

[Statistical]

Manufacturing in the U.S. expanded in October at the fastest pace in more than three years, a sign that factories will be the main drivers of the economic recovery in coming months.

The Institute for Supply Management’s factory index rose to 55.7, exceeding the most optimistic economist’s forecast, from 52.6 in September, according to the Tempe, Arizona-based group. Readings above 50 signal expansion.

Rising sales, boosted in part by the administration’s “cash-for-clunkers” plan, have led to a record plunge in stockpiles that will keep assembly lines humming. More than $2 trillion in global stimulus will also lift demand, while mounting joblessness signals consumer spending will be slow to rebound.

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http://www.bloomberg.com/apps/news?pid=20601103&sid=awgHXLzFiufo