US Factory Activity Gauge Suggests Stabilization at Weak Level
- ISM index rose to a six-month high of 47.6 in August
- Production gauge stagnant, while orders measure dropped
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A measure of US factory activity shrank less in August than a month earlier in a hopeful sign that the malaise in manufacturing is no longer deepening.
The Institute for Supply Management’s manufacturing gauge edged up to a six-month high of 47.6, from 46.4 in July, according to data released Friday. Readings below 50 indicate contraction.