The U.S. manufacturing sector expanded in September for the first time since May as new orders and employment picked up, an industry report showed on Monday.
The Institute for Supply Management said its index of national factory activity rose to 51.5 from 49.6 in August, topping expectations in a Reuters poll for 49.7.
It was the first time since May that the index has been above the 50 threshold that indicates expansion in the sector.
The forward-looking new orders gauge also rose to its highest level since May at 52.3 from 47.1, while employment gained to 54.7 from 51.6.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.