Manufacturing activity grew in August

The U.S. manufacturing sector grew in August after shrinking for 18 straight months.
SEP 01, 2009
By  Bloomberg
The U.S. manufacturing sector grew in August after shrinking for 18 straight months. The Institute for Supply Management, a trade group of purchasing executives, says its manufacturing index rose to 52.9 in August, from 48.9 in July. It's the first reading above 50, which indicates expansion, since January 2008. It's also the highest since June 2007. Analysts polled by Thomson Reuters expected a reading of 50.5. The index, which includes new orders, production, employment, inventories, prices and more, is based on a survey of the Tempe, Arizona-based group's members.

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