Manufacturing in U.S. Expands at Close to Seven-Year High

Manufacturing in the U.S. expanded in March at close to the fastest pace in almost seven years, reinforcing signs the industry will propel growth in the world’s largest economy.

The Institute for Supply Management’s manufacturing index was little changed at 61.2, after February’s 61.4 reading that was the highest since May 2004, the Tempe, Arizona-based group’s report showed today. Figures greater than 50 signal expansion.