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Empresas y finanzas

U.S. manufacturing activity holds near four and a half year high


    NEW YORK (Reuters) - U.S. manufacturing activity hovered at a near 4-1/2-year high in September and factory employment surged, supporting views of sturdy economic growth this quarter.

    The growth picture was also boosted by other data on Tuesday showing an acceleration in services industry growth this month.

    Financial data firm Markit said its preliminary or "flash" U.S. Manufacturing Purchasing Managers Index was at 57.9, unchanged from August's reading when it touched its highest level since April 2010.

    A reading above 50 signals expansion in manufacturing, which accounts for about 12 percent of U.S. economic activity.

    Factory employment increased for a second straight month, with a gauge of labor market conditions touching its highest level since March 2012.

    "The third quarter as a whole has seen the strongest expansion since the sector began to recover from the financial crisis," said Chris Williamson, chief economist at Markit in London, adding that he expects manufacturing to add to third-quarter U.S. gross domestic product growth.

    Separately, the Federal Reserve Bank of Philadelphia said its general activity index for non-manufacturing firms jumped to 35.7 this month from 27.3 in August.

    It was the first time that the survey of non-manufacturing firms in the Mid-Atlantic region was published. The survey, however, has been conducted since March 2011.

    The surge in activity reflected a jump in new orders, sales as well as an increase in full-time hiring. Non-manufacturing employees also worked longer hours this month, while firms increased their spending on capital.

    The relatively strong manufacturing and services sector reports bode well for third-quarter economic growth, whose estimates range as high as a 3.5 percent annual pace. The economy expanded at a 4.2 percent pace in the second quarter.

    "We expect GDP to grow at an annualized rate of at least 3 percent and as much as 4 percent, depending to a large extent on how the vast services economy fared in September," Williamson said.

    Markit's gauge of new orders held steady above the 60 level for the third time in the past four months, indicating persistent demand for manufactured goods.

    Markit's "flash" reading is based on replies from about 85 percent of the U.S. manufacturers surveyed.

    (Reporting by Dan Burns and Lucia Mutikani; Editing by Andrea Ricci)