ISM Manufacturing Index Rises, Defying Forecasts

Manufacturing in the U.S. unexpectedly accelerated in September, propelled by gains in exports and production.

The Institute for Supply Management’s factory index climbed to 51.6 last month from 50.6 in August, the Tempe, Arizona-based group said today. A level of 50 is the dividing line between growth and contraction. The median forecast of 82 economists surveyed by Bloomberg News projected a drop to 50.5.

Growing emerging economies like China and a rebound in Japan following the March earthquake and tsunami may continue to lift demand from overseas, giving a boost to companies like Emerson Electric Co. (EMR) and Honda Motor Co. Manufacturing, which accounts for about 12 percent of the economy, may prevent the recovery from being cut short even as consumer spending cools.

Read Full Article from Bloomberg

- Posted: 2011-10-03 12:16:36

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