ISM Manufacturing Index Rose To 48.9 In July

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While the Institute for Supply Management released a report on Monday showing a continued contraction in manufacturing activity in July, the report also showed notable improvement in new orders and production.

The ISM said its index of activity in the manufacturing sector rose to 48.9 in July from 44.8 in June, although a reading below 50 indicates a contraction. Economists had been expecting a more modest increase to a reading of 46.5.

While the Institute for Supply Management released a report on Monday showing a continued contraction in manufacturing activity in July, the report also showed notable improvement in new orders and production. (Market News Provided by RTTNews)