The Institute for Supply Management's Report on Business found the manufacturing sector expanding in July for the first time in five months. ISM's New Order Index, considered a leading indicator credited with leading the economy by 60-90 days, was up significantly in July. That same month, the Federal Reserve Board recorded a gain of 0.2 percent for U.S. factories, their third consecutive monthly increase. Capacity utilization also increased slightly in July, rising to 72.8 percent from 72.7 percent for manufacturing.