For the third straight month American factories expanded, according to a new report from the Institute for Supply Management. The institute said Wednesday (via the NY Times) that its manufacturing index rose to 51.3 last month, up from 50.8 in April. Anything above 50 signals growth. After being stuck below 50 from October through February, the index has rebounded a bit thanks to a weak dollar that makes American products cheaper in foreign markets. The index showed an increase in deliveries from suppliers while export orders and a measure om employment were essentially unchanged. Overall 12 of 18 manufacturing companies reported growth, with most of it coming manufacturers of wood products and textiles.