The US industry seems back on track, according to latest survey results of the Institute for Supply Management ISM. The widely watched factory index climbed to 51.5 points in September from 49.6 in the previous month. Economists had expected a modest improvement to 49.7.
For the first time since May, the manufacturing index regained the 50 level, which is seen as the dividing line between expansion and contraction. The better than expected outcome was based on an improvement in new orders as well as in the employment situation of the questioned companies.