Manufacturing activity improves

NEW YORK, Jan. 2 (UPI) -- The Institute for Supply Management, formerly known as the National Association of Purchasing Management, said Wednesday economic activity in the manufacturing sector rose in December for the second straight month, a sign the worst of the 17-month factory slump may be over. The group's much watched manufacturing index rose 3.7 percentage points to 48.2 from 44.5 percent in November. Economists on Wall Street were expecting the index to improve to 45.8 percent during the month.