The ISM Manufacturing index rose to 55.6 in the latest report, signaling stronger factory activity and supporting equity market gains.
US manufacturing activity expanded at a faster pace in the latest report, with the ISM Manufacturing index climbing to 55.6 from 53.3. The increase suggests a reacceleration in the factory sector, providing a tailwind for equities.
The prior month’s reading stood at 53.3, while consensus estimates had anticipated a modest rise. The index remains above the 50 threshold, indicating continued growth in the sector.
The S&P 500 extended gains following the release, reflecting investor optimism over improving economic data.