WASHINGTON (AP) — U.S. factories stepped up hiring and production in March, the latest evidence that manufacturing is growing at a healthy pace and fueling the recovery.
The Institute for Supply Management, a trade group of purchasing managers, said Monday that its index of manufacturing activity rose to 53.4 in March. That's up from 52.4 in the previous month. Readings above 50 indicate the sector is expanding.
A measure of employment in the sector rose to a nine-month high, a sign that factories are stepping up hiring. Manufacturers are already a big source of job gains. They've added more than 100,000 jobs in the past three months, about one-seventh of all net gains.
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