ISM Factory Index Rises in June

The Institute for Supply Management’s manufacturing index rose at the fastest pace in 14 months, ISM said Monday.

ISM’s factory index rose to 56 from 55 in May, the group said. Readings above 50 indicate expansion.

Economists had predicted the index would remain at 55, Bloomberg reported.

The production index rose from 58.3 to 62.9, a three-year high.

The ISM index measures U.S. manufacturing activity.