The Institute for Supply Management's manufacturing canvass is expected to reveal that business activity in the United States expanded for a 15th month in August, with the extent of reported gains improving on July's impressive breadth. Though somewhat spotty, available national and regional surveys suggest that the institute's purchasing managers' index climbed almost 1.5 points to 58.5 during the reference period, the highest reading since April 2011. Powered by pickups in hiring, orders and output, Markit Economics' flash barometer of activity at roughly 525 companies nationwide jumped from 55.8 in July to 58 last month, the strongest showing in more than four years.
