ISM reports strong manufacturing output for month of August
9/4/2013 3:31 PM
The PMI, the index used by the ISM to measure manufacturing activity, came in at 55.7 in August, representing a 0.3 percent increase over July and now stands as the highest PMI level since June 2011’s 55.8. What’s more the August PMI is ahead of the 12-month average of 52.0 by 3.7 percent and has been over 50 in eight of the last nine months.
According to the report, overall economic activity has grown for 51 straight months, and prior to contraction in June 2012 economic activity in the manufacturing sector saw growth for 34 straight months.
Click here to read article.