MW: ISM manufacturing index surges to 57.1% in July
By Greg Robb
WASHINGTON (MarketWatch) -- U.S. manufacturing companies expanded at its fastest pace since April 2011, a survey of executives found. The Institute for Supply Management said its manufacturing index rose to 57.1% last month from 55.3% in June, That was higher than the 56.0% forecast of economists surveyed by MarketWatch. Readings over 50% indicate more companies are expanding instead of shrinking. The indexes for new orders, production and employment all increased in July, with the employment gauge hitting its highest level since June 2011. Seventeen of the 18 industries tracked by ISM reported growth last month. The only one to record a decline was makers of wood products.
