U.S. manufacturing growth 'at five-month high'

Activity in the US manufacturing sector grew at its fastest pace for five months in August, with a pick-up in new orders, a survey has indicated. Analysts said the figures pointed to stronger US economic growth for the rest of the year. "Hopefully the faster growth of new orders seen during August will translate into increasingly strong production gains in coming months, and also boost hiring," said Markit's chief economist, Chris Williamson.