The U.S. economy has a few months to go before it catches Joe DiMaggio, whose legendary hitting streak lasted 56 consecutive games, but it's fast closing in on that record. In April, the overall economy grew for the 54th consecutive month, while activity in the U.S. manufacturing sector grew for the 35th consecutive month. Those findings come from the latest edition of the Manufacturing ISM Report on Business issued by the Institute for Supply Management (ISM).
For those wondering how much weight to give this information, consider this. Former Federal Reserve Chairman Alan Greenspan considers the ISM's index reports to be one of the most consistently accurate reflections of the nation's overall economic health and short-term trends for either growth or decline.