Factories rebound with best growth in 2 years

WASHINGTON • U.S. factories revved up production, hired more workers and received a surge of new orders in July, helping them expand at the fastest pace in two years. The gains suggest manufacturing is rebounding and could provide a spark to economic growth. The Institute for Supply Management said Thursday that its index of factory activity jumped to 55.4 in July, up from 50.9 in June. A reading above 50 indicates growth. The ISM is a trade group of purchasing managers. A gauge of production so...

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