U.S. manufacturing grew in August at the strongest pace in more than three years as factories cranked out more goods and new orders rose.
The Institute for Supply Management, a trade group of purchasing managers, says its manufacturing index rose to 59 from 57.1 in July. Anything above 50 signals that manufacturing is growing.
A gauge of production rose to the highest level in four years, and a measure of new orders jumped to its highest in 10 years. That suggests that the sector should continue to grow in the coming months.
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