MANUFACTURING GROWS: A private survey found that U.S. manufacturing grew in April at the fastest pace in 10 months, suggesting that the economy is healthier than recent data had indicated.
BROAD-BASED GAINS: The survey by the Institute for Supply Management, a trade group of purchasing executives, found that factory employment rose to a 10-month high. That indicates that factories are hiring at a solid pace.
REASSURING REPORT: Economists said the report shows the economy has staying power. A gauge of new orders jumped to its highest level in a year. That could signal faster production in the coming months.