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MNI INTERVIEW: ISM Manufacturing Seen Topping 50 By Year End

(MNI) WASHINGTON

ISM chief says US manufacturing can handle Fed's higher-for-longer interest rates.

The Institute for Supply Management's closely-tracked gauge of U.S. manufacturing activity is set to show a return to growth by the end of this year, after three consecutive monthly gains have taken the measure to its highest in nearly a year, ISM manufacturing chair Timothy Fiore told MNI Monday.

"We can easily go to something above 50 in the next two or three months," said Fiore of the dividing line that separates contraction from expansion in the sector.

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The Institute for Supply Management's closely-tracked gauge of U.S. manufacturing activity is set to show a return to growth by the end of this year, after three consecutive monthly gains have taken the measure to its highest in nearly a year, ISM manufacturing chair Timothy Fiore told MNI Monday.

"We can easily go to something above 50 in the next two or three months," said Fiore of the dividing line that separates contraction from expansion in the sector.

Keep reading...Show less