US manufacturing growth improves in June; hiring jumps
WASHINGTON (AP) — U.S. manufacturing growth improved in June, helped by a jump in employment.
The Institute for Supply Management, a trade group of purchasing managers, says that its manufacturing index rose to 53.5 last month from 52.8 in May. Manufacturing activity matched the high in January. Any reading above 50 signals expansion.
A measure of production fell, but it remained above 50. The gauge of new orders rose slightly to 56 from 55.8. But manufacturers are responding to the increased demand by hiring more workers, as the employment measure increased to 55.5 from 51.7.