US manufacturing shows further improvement in July
WASHINGTON (AP) - U.S. manufacturing showed further improvement in July with a key gauge of activity rising for a second straight month.
The Institute for Supply Management, an association of purchasing managers, said Monday that its manufacturing index rose to 54.2 last month, up from a June reading of 52.6.
Any reading above 50 signals that U.S. manufacturing is expanding.
The June increase had put the index back in expansion territory after it had fallen below 50, indicating a recession in manufacturing, back in March as the coronavirus pandemic pushed the overall economy into a deep recession.
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