WASHINGTON — U.S. manufacturing grew for the first time in four months, buoyed by a jump in new orders. The increase was a hopeful sign that the economy is improving.
The Institute for Supply Management, a trade group of purchasing managers, said Monday that its index of factory activity rose to 51.5. That's up from 49.6 in August.
A reading above 50 signals growth and below indicates contraction. The index had been below that threshold from June through August.
Stocks increased their gains after the report was released. The Dow Jones industrial average had been up roughly 100 points before the report came out. It jumped to 150 points up within 10 minutes of the release.
Source
Detroit Free Press