India, Aug. 3 -- The Institute for Supply Management released a report on Monday showing its reading on U.S. manufacturing activity increased by more than expected in the month of July.
The ISM said its manufacturing PMI climbed to 55.6 in July from 53.3 in June, with a reading above 50 indicating growth in the sector. Economists had expected the index to rise to 54.0.
With the much bigger-than-expected increase, the index reached its highest level since hitting 55.9 in May 2022.
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