NEW YORK-- The National Association of Purchasing Management recently reported that its monthly manufacturing index rose to 47.9 in August from 43.6 in July, above forecasts of 43.9.

August's reading was the best since November 2000 and put the index above a decade low of 41.2 in January.

The index indicates that new orders rose for the first time in more than a year. The report also suggests that factories increased production in August.

The NAPM production index rose to 52.2 in August from 46.4 in July. The NAPM inventories index rose to 37.7.