Production in June grows at the fastest pace in 5 months
Domestic demand is allowing factories to withstand sluggish overseas economies
Washington
MANUFACTURING expanded in June at the fastest pace in five months, indicating domestic demand is allowing America's factories to withstand sluggish overseas economies.
The Institute for Supply Management's (ISM) factory index increased to 53.5 in June from 52.8 the prior month, the Tempe, Arizona-based group's report showed on Wednesday. Readings above 50 indicate expansion. The figure was in line with the Bloomberg survey median forecast of 53.2.
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