United States: Manufacturing climbs further in August
September 2, 2014
In August, the ISM manufacturing index climbed to 59.0% from the 57.1% recorded in July. The result exceeded market expectations of a fall to 56.9% and marked the highest reading since March 2011. Moreover, the index pushed further above the 50.0% threshold that indicates expansion in the manufacturing sector.
Gains in the new-orders and production categories bolstered the positive development, with each pushing to multi-year highs. In addition, inventories jumped back into expansion territory, while supplier deliveries and employment tallied negligible declines.
Author: Carl Kelly, Economist