U.S. Manufacturing Continues to Expand in July
The U.S. manufacturing sector continued to expand for the 14th straight month in July according to the Institute for Supply Management (ISM), which released its data on August 1.
According to the group, which consists of a trade group of purchasing managers, its manufacturing index rose to 57.1, up from 55.3 in June.
ISM reports that an index reading greater than 50 signals that manufacturing is growing. New orders, production and employment at factories rose. Exports declined last month.
In related economic news, economic growth notched an impressive 4 percent annual pace from April through June and employers added more than 200,000 jobs in July for the sixth straight month.
Category: Featured, General Update
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