Manufacturing Expands at Faster Pace

Tempe, AZ, Aug. 1, 2014 — U.S. manufacturing expanded at its fastest rate since April 2011, according to the Institute for Supply Management.

ISM said its manufacturing index rose to 57.1% last month from 55.3% in June.

Readings over 50% indicate more companies are expanding than shrinking.

The indexes for new orders, production and employment all increased in July, and the employment index reached its highest level since June 2011.