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Economic activity in the manufacturing sector increased in August. The Institute for Supply Management’s purchasing managers index for U.S. manufacturing reached its highest reading in September since April 2011, Bloomberg reported. The ISM reported its index rose to 56.2 in September from a reading of 55.7 in August. Readings above 50 indicate growth.
The employment portion of the index rose to a reading of 55.4 in September, up 2.1 percentage points from August's reading of 53.3 and indicating expansion in employment for the third consecutive month.