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US manufacturing picks up pace in May

U.S. manufacturers expanded at a faster pace last month, another sign of strength for American industry.

The Institute for Supply Management, a trade group of purchasing managers, reports that its manufacturing index rose to 58.7 in May from 57.3 in April. Anything above 50 signals growth. American manufacturing has been growing for 21 months

Factories are benefiting from healthy economic growth in the United States and around the world.

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