ISM survey climbs to 50.7% in December from 49.5%

ISM survey climbs to 50.7% in December from 49.5%

 U.S. manufacturers expanded their business in December after contracting slightly in November, according to the closely followed ISM index. The Institute for Supply Management index rose to 50.7% from 49.5% in November. Economists surveyed by MarketWatch had expected the index to climbe to 50.5%. Reading over 50 indicate more manufacturers are expanding instead of contracting. The ISM's new-orders gauge was flat at 50.3% and the production index fell 1.1 points to 52.6%. The employment gauge, however, climbed 4.3 points to 52.7% to boost the overall ISM index. That's the highest employment reading since September