ISM Manufacturing Index Climbs To 52.9 In August

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Following eighteen consecutive months of contraction, the Institute for Supply Management released a report on Tuesday showing that economic activity in the manufacturing sector expanded in the month of August.

The ISM said its manufacturing index jumped to 52.9 in August from 48.9 in July, with a reading above 50 indicating an expansion in the sector. Economists had expecting the index to edge up to a reading of 50.2.

Following eighteen consecutive months of contraction, the Institute for Supply Management released a report on Tuesday showing that economic activity in the manufacturing sector expanded in the month of August. (Market News Provided by RTTNews)