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ISM manufacturing index hits three-year high

September 02, 2014

The Institute for Supply Management’s purchasing managers’ index for U.S. manufacturing rose to a reading of 59.0 in August, its highest level since March 2011.

Readings above 50 indicated growth. However, the employment portion of the index fell to a reading of 58.1 in August from the July reading of 58.2.

Reuters reports the increase reflects further signs of vigor in the economy.