U.S. ISM manufacturing PMI rises to highest level since April 2011
(Reuters) – The U.S. manufacturing sector last month expanded at its fastest pace in almost 2-1/2 years, an industry report showed on Tuesday, while firms added the most workers in 15 months.
The Institute for Supply Management (ISM) said its index of national factory activity rose to 56.2 in September from 55.7 in August, marking its highest level since April, 2011.
Economists polled by Reuters had expected September’s index to slip to 55. A reading above 50 indicates expansion.
Employment jumped to 55.4, its highest since June, 2012. It stood at 53.3 in August. The forward-looking new orders index, however, slipped to 60.5 from 63.2.
Economists forecast U.S. employers added 180,000 new jobs last month after hiring 169,000 workers in August.
