U.S. manufacturing expanded in July at the fastest pace since March 2019. The Institute for Supply Management (ISM) reported this week that its manufacturing gauge increased to 54.2 last month from 52.6. (Readings above 50 indicating expansion.) The ISM said “sentiment was generally optimistic” among manufacturers.
Meanwhile, the U.S. Commerce Department said new orders for U.S.-made goods moved higher for the second consecutive month in June, increasing 6.2%. 8/4/2020