Manufacturing steadies July purchasing index
August 2, 2006,
Tempe , Ariz. -- A key measure of strength in the manufacturing sector showed unexpected strength during July, and the nation's purchasing managers said their monthly gauge of activity in the nation's factories rose by 0.9% to a reading of 54.7.
Caution is still in order, as New Orders, after ticking up in June, dipped by 1.8% in July. The backlog of orders declined by 3.5%. Meanwhile the Prices component of the monthly index climbed by 2.0% to a level of 78.5 after subsiding somewhat in June.
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