Closely watched measure of manufacturing activity rises, matching Wall Street expectations.
August 1, 2003: 10:04 AM EDT
NEW YORK (CNN/Money) - U.S. manufacturing activity expanded for the first time in five months in July, the nation's purchasing managers said Friday, matching Wall Street forecasts.
The Institute for Supply Management (ISM) said its index of manufacturing activity rose to 51.8 from 49.8 in June. Any number below 50 indicates contraction in the sector. Economists, on average, expected the ISM index to rise to 51.8, according to a Reuters poll.
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