10:07AM U.S. July ISM over 50 for first time since Feb by Greg Robb
WASHINGTON (CBS.MW) -- The manufacturing sector in the United States expanded for the first time in five months, the Institute for Supply Management reported Friday. The ISM index rose to 51.8 percent from 49.8 percent in June. This is the highest reading since January. The increase was in line with expectations. Readings over 50 percent indicate that a majority of firms surveyed thought business was getting better or at least no worse. New orders rose to 56.6 percent in July from 52.2 percent in June. Production rose to 53.3 percent from 52.9 percent in June.
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