ISM Index Shows Manufacturing Is Expanding

Washington, DC, Sept. 1, 2009–Conditions for the nation’s manufacturers expanded for the first time in 19 months in August, the Institute for Supply Management reported Tuesday.

The ISM index rose to 52.9% in August from 48.9% in July. This is the first time the index has been above the breakeven point since January 2008.

The consensus forecast of estimates was for the index to rise to 50.5%. Readings above 50 indicate expansion.