July factory activity expands at fastest pace in 39 months: ISM

Fri Aug 1, 2014 10:21am EDT

A worker makes final preparations after installing the motherboard on the reverse side of a 32-inch TV at Element Electronics in Winnsboro, South Carolina May 29, 2014.   REUTERS/Chris Keane

A worker makes final preparations after installing the motherboard on the reverse side of a 32-inch TV at Element Electronics in Winnsboro, South Carolina May 29, 2014.

Credit: Reuters/Chris Keane

(Reuters) - The U.S. manufacturing sector expanded last month at the fastest pace in more than three years boosted by a jump in its new orders and employment readings, an industry report released on Friday showed.

The Institute for Supply Management (ISM) said its index of national factory activity rose to 57.1 in July, the highest since April 2011, from 55.3 in June. The reading topped expectations of 56, according to a Reuters poll of economists.

A reading above 50 indicates expansion in the manufacturing sector.

The employment component jumped to 58.2 in July from 52.8 the previous month, hitting its highest since June 2011 and handily beating the expected 53 mark. New orders rose to 63.4 from 58.9.

(Reporting by Rodrigo Campos; Editing by Chris Reese)

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Comments (1)
BeRealistic wrote:
We kind of knew this already from reports of increasing inventories. This is causing current growth numbers to look good by overproducing at teh expense of future periods, much like a ponzi scheme, eventually reality is going to catch up to the games being played then growth will take a huge hit…again. NOTHING is getting better under the current inept and petulant little man in the WH and his idiot minions like reid, pelosi, boxer, feinstein the cluless one, and so many others.

8월 01, 2014 2:56pm EDT  --  Report as abuse
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