(Reuters) - The Institute for Supply Management said its manufacturing index rose to 56.0 in June from 55.0 in May, slightly firmer than Wall Street had forecast.
"Orders increased and inventories decreased slightly, suggesting that manufacturing prospects still look good," said Gary Thayer, chief economist at A.G. Edwards and Sons in St. Louis. "But while manufacturing improved in the second quarter over the first quarter, it wasn't a big enough difference to cause the Fed to have to raise rates."
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"Orders increased and inventories decreased slightly, suggesting that manufacturing prospects still look good," said Gary Thayer, chief economist at A.G. Edwards and Sons in St. Louis. "But while manufacturing improved in the second quarter over the first quarter, it wasn't a big enough difference to cause the Fed to have to raise rates."
Read more at Reuters.com Hot Stocks News
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