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US Manufacturing Quickens While Prices Keep Spiraling Upward

June 1, 2018

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U.S. manufacturing expanded at a faster pace in May and order backlogs grew by the most in 14 years, even as price gains for materials continued to accelerate, the Institute for Supply Management said on June 1.

Highlights of ISM Manufacturing
-The Factory index rose to 58.7from 57.3.

-The measure of new orders improved to 63.7 from 61.2.

– Order backlogs index increased to 63.5, the highest since April 2004, from 62.

– Employment gauge increased to 56.3, the first gain in three months, from 54.2 reading.

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