The U.S. ISM Manufacturing Index surged to 59.0% in August, from
57.1% in July, ahead of the consensus estimate of 56.8%. This is
the index's highest reading since March 2011, thanks mainly to jump
in its new orders and production components.
Here are further details from the report:
· The New
Orders Index jumped 3.3%% to 66.7%
Production Index also increased by 3.3% to 64.5%
Employment Index was at 58.1%, down 0.1%
increased by 3.5% to 52.0%
This was the highest reading for New Orders index since April 2004
and the highest reading for Production index since May 2010. Of the
18 manufacturing industries tracked by ISM, 17 reported growth in
August; only textiles reported a decline.
Per ISM, comments from the panel reflected a positive outlook mixed
with caution over global geopolitical unrest.
The report confirms that the U.S. manufacturing activity has
maintained its positive momentum.
Does the strong manufacturing report make you more bullish about
economic growth in the third quarter?
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