Factories Crank Up Output as Demand Rises

(Reuters – Steven C. Johnson and Jonathan Cable)

Factories in the United States, Europe and Asia cranked up production last month, suggesting recovery from a deep recession was taking root in economies around the globe.

The U.S. manufacturing sector grew at its fastest pace in more than five years last month and activity in Europe bounced higher, with a cheaper euro helping stimulate exports. UK manufacturing expanded at its fastest pace since 1994, while China’s vast industrial sector also grew in March.

U.S. stock indexes rose along with equity markets across Europe and Asia as the data bolstered hopes the worst global downturn in generations was ending. Read more here.