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The Institute for Supply Management released its manufacturing purchasing managers' index for the U.S. on Monday. The index climbed to 52.8 in May from 51.5 in April, exceeding expectations for a gain to 52.0. It was the highest level since February.
A reading above 50 indicates expansion, below indicates contraction.
The increase was driven by a rise in the employment index, which rose to 51.7 in May from 48.3 in April.
The production index dropped to 54.5 in May from 56.0 in April.
The new orders index was up to 55.8 in May from 53.5 in April.
The prices paid index increased to 49.5 in May from 40.5 in April.
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