The Federal Reserve reported this week that U.S. manufacturing output bumped up 0.3% in June after disappointing numbers in April and May. The June figures may give an indication for positive growth in the second half of the year after a sluggish second quarter. "Clearly, manufacturing production growth significantly outpaced overall economic growth early this year and has recently been correcting to the relatively slow pace of growth in the overall economy," said Daniel J. Meckstroth, chief economist for MAPI.

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