US Factory Gauge Contracts at Slowest Pace in Nearly a Year
- ISM index increased to 49 in September, topping estimates
- Production, orders expanded by most in more than a year
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A measure of US factory activity contracted in September by the least in nearly a year, offering hope that the worst may be over for the nation’s producers.
The Institute for Supply Management’s manufacturing gauge rose to 49, the highest since November, from 47.6 the month before, according to data released Monday.