US Manufacturing Soars to 15-Month High: ISM

Workers assemble Apple's Mac Pros at the Flextronics computer manufacturing facility in Austin, Texas, on Nov. 20, 2019. Mandel Ngan/AFP/Getty Images

Manufacturing in the United States, as measured by a key business activity gauge, surged to a 15-month high in July, exceeding economists’ expectations.

The Institute for Supply Management (ISM) business survey, published Aug. 3, shows that its topline manufacturing activity indicator, called the Purchasing Managers’ Index (PMI), surged to a reading of 54.2 in July.