Growth Picks Up for U.S. Manufacturers

Washington, DC, Sept. 1, 2010--Growth conditions for U.S. manufacturers improved for the first time in four months, the Institute for Supply Management reported Wednesday.

The ISM index rose to 56.3% in August from 55.5% in July. This was much stronger than expected. The consensus forecast was for the index to fall to 53.2%. Readings above 50 indicate expansion.

The key employment index improved to 60.4% in August from July's 57.8%. Production also jumped. However, new orders slipped to 53.1% in August from 53.5 in the prior month.