Hiring at U.S. companies
increased in November after a two-month lull, manufacturing
expanded and services rebounded as the economy began to pick up,
government and industry reports are forecast to show this week.
“These are better days,” said Robert DiClemente, chief U.S.
economist at Salomon Smith Barney Inc., a unit of Citigroup Inc.,
the world’s biggest financial services company.
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Federal Reserve policy makers on Nov. 6 reduced their
benchmark interest rate to a 41-year low to stoke an economy they
said was in a “soft spot.” Lower borrowing costs have bolstered
consumer spending, boosting orders to factories and allowing some
companies to gradually begin adding to payrolls.
Employment increased by 30,000 in November after 18,000 jobs
were lost in the prior two months, economists expect the Labor
Department’s report to show Friday. Manufacturing probably
expanded in November for the first time in three months, today’s
Institute for Supply Management’s report will probably show.
Factory orders increased an estimated 1.7 percent in October.
Bloomberg News
