Manufacturing in the U.S. expanded more than forecast in August to the fastest pace since June 2011, a sign the sector will contribute more to the expansion in the second half of the year. The Institute for Supply Management’s factory index climbed to 55.7 from the prior month’s 55.4, the Tempe, Arizona-based group’s report showed today. Fifty is the dividing line between growth and contraction. The median forecast of 85 economists surveyed by Bloomberg called for 54. Factory activity is getting a boost from demand for automobiles, which is encouraging manufacturers such as Ford Motor Co. (F) to expand capacity. The ... (full story)