ISM Manufacturing Index Rises in June

U.S. manufacturing activity rose in June, showing continued expansion for the 23rd consecutive month, the Institute for Supply Management said Friday.

ISM’s monthly factory index rose to a reading of 55.3, from a 53.5 reading in May, the group said. Figures over 50 indicate expansion.

The reading topped economists’ projections of a drop to 52, Bloomberg reported.

Twelve of 18 manufacturing sectors showed expansion for the month, ISM said.

ISM’s factory index measures manufacturing components of the economy.