Investing.com – Manufacturing activity in the U.S. rose unexpectedly in August, industry data showed on Wednesday.
In a report, the Institute for Supply Management said its index of purchasing managers increased to 56.3 in August, after falling to 55.5 in July.
Analysts had expected the index of purchasing managers to fall to 53.0 in August.
On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.
The report also showed that the ISM index of manufacturing prices rose to 61.5 in August, after rising to 57.5 in July.
Analysts had expected the index of manufacturing prices to fall to a level of 53.0 in August.
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD gaining 1.21% to hit 1.2834.
In a report, the Institute for Supply Management said its index of purchasing managers increased to 56.3 in August, after falling to 55.5 in July.
Analysts had expected the index of purchasing managers to fall to 53.0 in August.
On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.
The report also showed that the ISM index of manufacturing prices rose to 61.5 in August, after rising to 57.5 in July.
Analysts had expected the index of manufacturing prices to fall to a level of 53.0 in August.
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD gaining 1.21% to hit 1.2834.