ISM: US manufacturers grow slower in July

By By Jeffry Battash,

Aug 01, 2016

US manufacturers grew a bit slower in July but are still expanding at mild pace that’s likely to offer the broader economy more support, a survey of executives found.

The Institute for Supply Management said its manufacturing index dipped to 52.6 % last month from 53.2% in June, which marked a one-year high. Still, readings over 50% indicate more companies are expanding instead of shrinking.

The index has been positive for five straight months following five negative readings from October 2015 to February 2016.

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