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Purchasing managers index jumps in July

August 01 2013

The Institute for Supply Management’s purchasing managers index for U.S. manufacturing reached its highest reading so far this year, rising to 55.4 from a reading of 50.9 in June. The reading shows economic activity is increasing — readings above 50 indicate growth.

In addition, the employment portion of the index swung back to growth with a reading of 54.4 in July, up from June’s reading of 48.7.

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