U.S. developed grows in July at its slowest pace this year as a watercourse of new orders tapered off, pointing to further slackening in the economic recovery. Motionless, the industrialized index was improved than many analysts had expected and boosted U.S. stock prices.Industrialized has been leading the U.S. recovery, which started in the second half of 2009. Still although new data has suggested slowing growth, the majority economists see low likelihood of another severe downturn in the near future.
Additional data showed developed picked up in the euro zone in July, while it shrank in China for the first time since March 2009.
The Organization for Supply administration said on Monday its index of national plant activity fell to 55.5 in July from 56.2 in June, the third successive monthly decline. An updated median forecast by 74 economists surveyed by Reuters was for a reading of 54.2.
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