ISM the Institute for Supply Management

The Institute for Supply Management: The Institute for Supply Management said Thursday that its index of factory activity jumped to 55.4 in July, up from 50.9 in June. A reading above 50 indicates growth. The ISM is a trade group of purchasing managers. , according to Winnipeg Free Press. "The report builds the case for a second-half speed up in U.S. industrial production," said Jonathan Basile, an economist at Credit Suisse. WASHINGTON - U.S. factories revved up production, hired more workers and received a surge of new orders in July, helping them expand at the fastest pace in two years. The gains suggest manufacturing is rebounding and could provide a spark to economic growth. A gauge of production soared 11.6 points to 65, the highest reading since May 2004. And a measure of hiring at factories rose to its best level in a year the latest of several encouraging signs ahead of Friday's July employment report. (www.immigrantscanada.com). As reported in the news.