June ISM factory index rises unexpectedly to 55.3

WASHINGTON (MarketWatch)
Conditions for the nation's manufacturers picked up unexpectedly in June, easing fears of a double-dip.
The Institute for Supply Management's factory index rose to 55.3% in June from 53.5% in May, the ISM reported Friday.
The increase was a surprise.
The consensus forecast of estimates collected by MarketWatch was for the index to fall to 52.3%
The ISM index had plunged to 53.5% in May from 60.4% in April.
Below the headline, the report was also firm.
The key employment index improved to 59.9% in June from 58.2% in May.
New orders jumped to 51.6% in June from 51.0% in the prior month.
The price index fell to 68.0 from 76.5 in the prior month.