Who's got best growth? Oddly, it's the U.S.

America’s economy isn’t doing great, but it’s better than the rest of the world’s.

That’s the conclusion to be drawn from the monthly surveys of manufacturing firms across the globe that were released on Thursday.

Almost everywhere, manufacturing activity is gearing down. Europe is likely in a recession already. China’s output is falling. Other big emerging economies are still growing, but at a slower pace.

The one big exception? The United States ...