ISM Manufacturing Index Soars To 14-Year High On Booming Orders, Hiring
By BLOOMBERG NEWS | 9/04/2018
The ISM manufacturing index unexpectedly jumped to the highest since May 2004 as orders, production and employment all picked up, offering a positive sign for the economy even as trade tensions weigh on the outlook.
ISM Manufacturing Highlights
Institute for Supply Management’s factory index jumped 3.2 points to 61.3, topping the consensus for 57.6 and exceeding all estimates. ISM manufacturing readings above 50 indicate expansion. The new orders measure leapt 4.9 points to 65.1; the production index increased to 63.3 from 58.5. The export orders gauge fell to a 10-month low of 55.2 from 55.3 while the imports index dipped 0.8 point to 53.9, lowest since last September….
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