Manufacturing Surges in July

Washington, DC, Aug. 1, 2013 -- The Institute for Supply Management said its July manufacturing index accelerated to a reading of 55.4% from 50.9% in June.

That's the highest level since August 2011.

Economists had expected a reading of 52.0%.

New orders rose 6.4 points to 58.3%, the production index increased 11.6 points to a nine-year high of 65%, and the employment index increased 5.7 points to 54.4%.

Any reading over 50% indicates expansion.

 


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