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ISM manufacturing index jumps to six-year high in August

Manufacturing activity was the strongest in six years in August, according to a survey of purchasing managers released Friday.

The Institute for Supply Management said its manufacturing index in August climbed to 58.8% from 56.3% in July. That is the highest reading since April 2011.

Economists polled by MarketWatch expected a reading of 56.8%. Any reading above 50% indicates improving conditions.

Separately, IHS Markit said its manufacturing PMI fell to 52.8 in August from 53.3. It’s a similar report to the ISM gauge.

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