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.