The index is calculated via a monthly survey polling manufacturing managers on data involving orders, hiring, inventories, shipments, prices and other measures of activity. A reading above 50 demonstrates a growth in national manufacturing activity, while anything under 40 represents a reduction, according to the report.
This is the fifth consecutive month the index has increased, reaching the highest figure since November 2014.
The stabilization of the dollar and oil prices after a long stretch of unpredictability fueled growth, along with larger manufacturing demand at home and abroad. President Donald Trump’s business-friendly views may also be stimulating manufacturing growth, reports WSJ.
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