U.S. manufacturing activity increased in October, the Institute for Supply Management said Thursday.
ISM’s monthly manufacturing index rose to a reading of 51.7, the highest since May, from 51.5 last month, ISM said.
Figures lower than 50 indicate contraction, while figures higher than 50 show expansion.
The reading topped economists’ median forecast of 51, Bloomberg reported.
The production index rose to a 52.4 reading from 49.5 in September, new orders increased to 54.2 from 52.3, and the employment index slipped to 52.1 from a three-month high 54.7.
ISM’s factory index measures manufacturing components of the economy.