In its monthly Manufacturing Report on Business, ISM reported that the report’s key metric, the PMI, came in at 54.2 (a reading of 50 or higher indicates growth), for a 1.6% gain over June’s 52.6, with June snapping a three-month stretch of PMI declines. The July PMI also represents the highest PMI reading over the last 12 months and is 5.6% higher than the 12-month average of 48.6. ISM also reported that the overall economy grew for the third straight month in July, following a decline in April, which snapped a stretch of 131 consecutive months of economic expansion.
Source: logistics Mgmt
Manufacturing hits highest level in 12 months, reports ISM
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