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Strategies & Market Trends : Axxel Knutson's Trading Weapon
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To: Axxel who started this subject9/2/2003 11:37:52 AM
From: Axxel   of 188
 
Manufacturing activity
rose for a second straight month in
August amid surging production and a
continued contraction in payrolls, a
report released Tuesday said.

The Institute for Supply Management
said its index of manufacturing activity
rose to 54.7 in August from 51.8 in July
and 49.8 in June. Readings above 50
indicate expansion of activity, while
readings below 50 point to contraction.

The August reading was the best since
the end of last year, and was above the
53.5 level expected by economists
surveyed by Dow Jones Newswires and
CNBC. Many in the market expected the
August index would be stron ger than
forecast after decidedly strong readings
in several recent regional manufacturing
reports
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