US Manufacturing Activity At Highest Levels In Two Years
FILE - In this June 24, 2019, file photo machines work on a Ford vehicle assembly line at Ford's Chicago Assembly Plant in Chicago. American factories expanded at a faster pace last month, continuing a rebound from the coronavirus recession. The Institute for Supply Management, an association of purchasing managers, reported Tuesday, Sept. 1, 2020, that its manufacturing index climbed to 56 in August from 54.2 in July. (AP Photo/Amr Alfiky, File)
The Institute for Supply Management, an association of purchasing managers, said Monday that its manufacturing index rose by 3.9 percentage-points to a reading of 59.3% last month, up from 55.4% in September.
It was the highest level for this closely watched barometer of manufacturing health since September 2018. Any reading above 50 signals that manufacturing is expanding.
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