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The Institute for Supply Management said factory output expanded in November for 28th straight month. The economy is growing slowly and steadily after nearly stalling in the first six months of the year. Economics expect slightly better growth of 2.5 percent the October-December quarter. Modest growth has also encouraged businesses to hire more workers. The economy added 120,000 net jobs in November, the Labor Department said Friday. The economy has generated 100,000 or more jobs five months in a row
-- the first time that has happened since April 2006, well before the Great Recession. The unemployment rate dropped to 8.6 percent, the lowest level since March 2009. Other reports in recent weeks show the economy is picking up. Holiday sales got off to a good start after Thanksgiving and auto sales posted big gains in November. Both should help increase factory production in the coming months.
[Associated
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