WASHINGTON (AP) — U.S. factories expanded at a brisk pace in August, a likely sign of strength for the U.S. economy as new orders, production and employment all improved.
The Institute for Supply Management said Friday that its manufacturing index rose to 58.8 percent last month from 56.3 percent in July. Anything above 50 signals that factory activity is increasing.
The measure now stands at its highest level since April 2011, pointing to solid economic growth.