U.S. manufacturing sector shrank for second month
WASHINGTON – U.S. manufacturing shrank for the second straight month in July, a worrying sign that growth is faltering.
The Institute for Supply Management, a trade group of purchasing managers, says its index of manufacturing activity ticked up to 49.8, from 49.7 in June.
A reading below 50 indicates contraction. June was the first time manufacturing contracted in three years.
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