Manufacturing Did NOT Shrink for the Second Consecutive Month In July

The first sentence a Washington Post article told readers:

"American manufacturing unexpectedly contracted in July for a second month, reflecting a drop in orders that threatens to undercut a mainstay of the recovery."

As the article then explains, this statement is referring to an index from the Institute for Supply Management which showed a reading of 49.8 percent in July. A reading of less than 50 is associated with contraction in the sector.

However this is a broad index that assesses man...