U.S. manufacturing expanded in December at the fastest pace in three months, as gains in orders and production capped the strongest year for factories since 2004, the Institute for Supply Management says.
The group’s factory index climbed to 59.7 from 58.2 a month earlier.
The gauge of new orders advanced to 69.4, the highest in nearly 14 years, from 64.
And the measure of production increased to 65.8, the strongest since May 2010, from 63.9
The gauge of supplier deliveries climbed to 57.9 from 56.5, indicating stronger demand was leading to longer lead times.
The survey-based measure of factory activity — the year’s second-highest behind September, when storm-related supply delays boosted the index — brings the 2017 average to 57.6, the best in 13 years.