Business

US manufacturing grows at fastest pace in 3½ years

By Christopher Rugaber
Published September 2, 2014 5:46pm ET
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US manufacturing grows at fastest pace in 3½ years
In this Aug. 7, 2014 photo, a worker assembles construction supplies at Northeast Building Products in Philadelphia. The Institute for Supply Management, a trade group of purchasing managers, issues its index of manufacturing activity for August on Tuesday, Sept. 2, 2014. (AP Photo/Matt Rourke) | Matt Rourke

WASHINGTON (AP) — 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’s manufacturing index rose to 59 from 57.1 in July, the ISM said Tuesday. That was the highest reading since March 2011. Any measure above 50 signals that manufacturing is growing.

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