Economics
U.S. Economy: Manufacturing Slowed as Orders Cooled
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The manufacturing rebound that propelled the U.S. out of the recession cooled in July, reflecting a slowing in orders and production.
The Institute for Supply Management’s manufacturing gauge dropped to 55.5 last month, exceeding the median forecast of economists surveyed by Bloomberg News, from 56.2 in June. Readings greater than 50 indicate growth. The group’s bookings gauge, considered a leading indicator, fell to a one-year low.