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Posted August 1, 2013

Manufacturing expanded in July

Economic activity in the manufacturing sector expanded in July for the second consecutive month, according to the Institute for Supply Management.


The PMI registered 55.4 percent, an increase of 4.5 percentage points compared to June's reading of 50.9 percent. July's reading reflects the sixth month of growth, and the highest overall PMI reading, in the first seven months of 2013. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.

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