WASHINGTON – American manufacturing expanded for the fourth straight month in June, hitting the strongest reading since February 2015 as the outlook for new orders and production improved.
The Institute for Supply Management says its manufacturing index rose to 53.2 last month from 51.3 in May. Anything above 50 signals growth.
New orders and production both accelerated, while a measure of employment turned positive after signaling contraction in prior months. Thirteen of 18 manufacturing industries reported growth last month, including primary metals and textiles.
The report suggests U.S. factories are showing some signs of stability after being pummeled at the beginning of last year by a rising dollar, shuttered oil production and weak global economic growth.
The ISM, a trade group of purchasing managers, surveys about 200 U.S. companies each month.