US manufacturing index rose to 51.5 in September

The Institute for Supply Chain Management's manufacturing index jumped from 49.4 in August to 51.5 in September, according to The Wall Street Journal.

A reading above 50 demonstrates a growth in national manufacturing activity, while anything under 40 represents a reduction.

Despite the manufacturing index's increase, the overall growth of the sector is still slow due to low business spending and weak economic expansion, reported WSJ.

"The bottom line is that the manufacturing sector still faces challenging conditions," said Richard Moody, PhD, chief economist at Birmingham, Ala.-based Regions Financial.

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