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U.S. manufacturing activity expanded in July atÌýthe fastest pace since June 2011, the Institute for Supply Management said Thursday.

ISM’s monthly index rose to a 55.4 reading from 50.9 in June, the group said. Figures of more than 50 indicate expansion, while below that show contraction.

The reading wasÌýhigher than economists’ forecasts of a 52 reading, Bloomberg reported.

The ISM factory index measures manufacturing components of the economy.