US manufacturing sector strengthens in June

The US manufacturing sector picked up pace in June but growth remained modest, the Institute for Supply Management reported Wednesday. Respondents to the ISM purchasing managers survey said the auto industry continued to be strong on US consumer spending, but the downturn in the oil industry, slow economic growth outside the country, and the avian flu's impact on food processors, were holding back manufacturing overall. The ISM purchasing managers index rose to 53.5 from 52.8 in May. A read