The Institute for Supply Management (ISM) published the latest edition of its Chicago Business Barometer, which gauges the state of Midwestern economic activity, and the results were overwhelmingly positive. The ISM's manufacturing index, which is based on a survey of the region's manufacturers, jumped to 64.3 in August, a monthly increase of more than 11 points that surpassed analysts' expectations. Historically, the index has shown a strong correlation with variations in the nation's gross domestic product.

The index had fallen in July, but the rebound made up for all lost ground and more, as most observers had predicted. "We had speculated that July's downturn would prove temporary rather than signal the start of a downward trend," said the report's editor. "The sharp bounceback in August, with growth in output at the highest in nearly 10 years, suggests that growth in the U.S. economy will continue apace in Q3."

Indeed, the survey's Production component rose to levels not seen since 2005, and both New Orders and Order Backlogs also grew sharply. Of the six elements the index takes into account, only Employment fell in August. Overall, the Barometer is at its highest level since May and approaching its highest ever.

The index is more good news for the manufacturing sector, which is one of the main economic motors of Indiana and the entire Midwest region. Manufacturing ERP software can be a vital tool for a company to contribute to the sector's further growth. With an enterprise resource planner, a business can manage and keep track of all its essential functions, from the early stages of production to distribution. These software business solutions are available from local companies, who understand the specific needs of the region's manufacturers.