Manufacturing activity up for 14th straight month

NEW YORK (AP) — An industry trade group says manufacturing activity expanded in September for the 14th straight month, but at a slower rate than in the previous month.

The Institute for Supply Management says its manufacturing index read 54.4 in September, down from 56.3 in August. A reading above 50 indicates growth.

Strong growth in the industrial sector has helped lift the country out of the recession. Last month’s report was better than expected and triggered an explosive rally on Wall Street. That kicked off the best September for the stock market since 1939. The Dow Jones industrial average gained almost 8 percent for the month.