American manufacturers fired up their production lines in June and expanded for the first time since the start of the coronavirus pandemic almost four months ago, but growth hasn’t returned to precrisis levels and is unlikely to do so soon. The Institute for Supply Management said its manufacturing index climbed to 52.6% from 43.1% in May and an 11-year low of 41.5% in April.{image}Economists surveyed by MarketWatch had forecast the index to total 50.2%. Readings over 50% indicate more companies are expanding instead of shrinking. What’s unclear is the extent to which a recent spike in COVID-19 cases in states such ... (full story)