US manufacturing activity heats up in July: Survey
WASHINGTON (AFP) - US manufacturing activity heated up in July in the second straight month of growth, according to a monthly survey released on Thursday.
The Institute for Supply Management said its purchasing managers index for the manufacturing sector jumped to 55.4 in July, a solid 4.5 percentage points higher than the June figure.
The PMI reading was well above the average analyst prediction of 51.5 and the strongest level of the year.
The PMI index has been above 50 - expansion territory - every month except May, when it dipped to 49.0. A reading below 50 indicates a contraction.