U.S. Factories Expand Activity for Fifth Month

(CN) - Factories across the nation expanded their manufacturing activities for a fifth straight month in July, The Institute for Supply Management said Monday.

The Institute's manufacturing index for last month was 52.6. That's down slightly from 53.2 in June, but still pretty good considering anything higher than 50 signals growth.

At the same time, however, the Institute said employment contracted in July after having risen modestly in June.

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