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The Institute for Supply Management said that factory activity improved in June after hitting its lowest level in four years. But the closely watched manufacturing survey reported that employment fell to its lowest level since September 2009. Factory activity in the New York region grew for the second straight month in July, according to the Federal Reserve Bank of New York's Empire State manufacturing survey. U.S. businesses reported a strong 1.1 percent increase in sales in May, the Commerce Department reported. Those same firms only increased their stockpiles slightly, suggesting they will need to order more goods to keep up with demand. And Americans bought more cars and trucks, furniture and clothes in June, according to a separate Commerce report on retail spending. But consumers cut back almost everywhere else, and overall retail sales rose just 0.4 percent last month from May.
[Associated
Press;
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