December 29, 2017 / 2:04 PM / 9 months ago

U.S. Upper Midwest factory sector grows faster in Dec

Dec 29 (Reuters) - A measure of factory activity in the U.S. Upper Midwest increased in December, led by much stronger readings on new orders and production, according a private survey released on Friday.

Marquette University and the Institute for Supply Management-Milwaukee said their seasonally adjusted index on manufacturing in the Milwaukee region rose to 65.57 this month from 59.62 in November.

A reading above 50 indicates regional factory activity is expanding.

The survey’s component on new orders, a proxy on future activity, increased to 88.33 from 66.46 last month, while its production gauge improved to 72.65 from 57.94. (Reporting by Richard Leong Editing by Chizu Nomiyama)

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