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U.S. Manufacturing. "A U.S. manufacturing index unexpectedly rose last month as production increased and more factories added workers than at any time since Ronald Reagan was president. ``Plain and simple, this report tells us that the manufacturing sector is smoking,'' said Stephen Stanley, chief economist at RBS Greenwich Capital in Greenwich, Connecticut. ``The breadth of the expansion as well as its speed is breathtaking.'' The Institute for Supply Management's factory index for March rose to 62.5, close to a two-decade high of 63.6 in January, from 61.4. The index has now exceeded 50, signaling expansion, for 11 months. The number of Americans filing initial unemployment claims dropped to 342,000 last week from a revised 345,000 and producer prices rose less than expected in February, the Labor Department said in Washington. The purchasing managers' employment index rose to 57, the highest since December 1987, from 56.3 the prior month .. " more Bloomberg. Posted by Greg Ransom | TrackBack