"Manufacturing is still in pretty good shape"
- Scott Brown, chief economist at Raymond James & Associates Inc.
Manufacturing in the U.S. expanded in April at the fastest pace in 10 months, showed Institute for Supply Management data on Tuesday. The index rose to 54.8 from 53.4 in May. Reading above 50.0 indicates industry expansion.
"Manufacturing is still in pretty good shape," said Scott Brown, chief economist at Raymond James & Associates Inc. in St. Petersburg, Florida.
"U.S. manufacturing will outperform its counterparts in Europe. At the points, we're in a steady-state expansion" in the economy, he said.
"Business conditions continue to improve," said an executive at a furniture-making company.
And an executive at a chemicals company said: "We expect our production levels to remain at the current level or increase over the next quarter."
© Dukascopy Bank