The end of the recession may be in sight for manufacturers, according to a new report from the Institute for Supply Management.
The ISM index hit 48.9 percent in July, up from 44.8 percent in June. A score below 50 percent indicates economic contraction while a score above 50 percent indicates growth.
Both production and new orders rose above 50 percent during the month. The index hasn’t been above 50 percent since January 2008. It hit its low point, 32.9 percent, in December and has been slowly improving since.
