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https://www.barrons.com/articles/inflation-hasnt-hit-manufacturing-demand-supply-is-still-the-issue-51654103082

The U.S. manufacturing sector grew at a faster rate in May compared with April, a new number out Wednesday shows.

And faster growth benefits so-called “short-cycle” industrial firms.

A key gauge—the purchasing managers index compiled by the Institute for Supply Management—came in at 56.1 for May, up from the April reading of 55.4. A level...

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