ISM Factory Index Rises Unexpectedly

Tempe, AZ, July 1, 2011 -- The Institute for Supply Management’s factory index unexpectedly rose to 55.3 in June from 53.5 the prior month.

Economists projected the gauge would drop to 52.

The ISM index had dropped to 53.5 in May from 60.4 in April. 

The key employment index improved to 59.9 in June from 58.2 in May. New orders jumped to 51.6 in June from 51.0 in the prior month.