Manufacturing Expands at Faster Pace in October

Tempe, AZ, Nov. 3, 2014 --  U.S. manufacturers expanded at a faster rate in October, according to the Institute for Supply Management.

ISM said new orders rose to the second highest level in five years as its manufacturing index jumped to 59% from 56.6% in the prior month.

Readings over 50% indicate more companies are expanding instead of shrinking.

The ISM's new-orders index increased 5.8 points to 65.8%, the second highest level since 2009.