US manufacturing numbers are better than forecast predicted
In July manufacturing experienced the greatest growth it has seen in more than two years. The surge is attributed to greater orders and production which signal companies are more favorable about the U.S economy’s prospects.
The Institute for Supply Management’s factory index jumped to 55.4, exceeding the highest projection in a Bloomberg survey of economists, from 50.9 in the prior month, according to the Tempe, Arizona-based group. Readings above 50 indicate expansion. A separate report showed first-time claims for unemployment insurance fell to the lowest in five years.