U.S. manufacturing growth hits 11-month high in December

U.S. manufacturing ended the year on a high note, growing in December at its fastest pace in 11 months, while the rate of job growth was the swiftest since March, an industry report showed on Thursday. Financial data firm Markit said its final U.S. Manufacturing Purchasing Managers Index rose to 55.0 last month, beating November's 54.7 reading and an initial December estimate of 54.4. Williamson said the index suggests manufacturing jobs are being created at a rate of about 20,000 per month. Signs of strength in both the manufacturing and services sector as well as stronger job growth across the economy contributed to the Federal Reserve's decision in December to begin slowing its monthly bond purchases.

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