ISM corrects factory index to show solid growth

Published June 2, 2014 5:49pm ET



WASHINGTON (AP) — The Institute for Supply Management twice corrected its May manufacturing index on Monday to show that factories grew at a strong pace during the month. The original report said that manufacturers had expanded at a weaker pace.

The index, a widely followed gauge of factory activity, now reads 55.4, up from 53.2 in the initial report. Any reading above 50 indicates expansion.

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