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Manufacturing is growing in the United States and abroad, easing fears that the economy might be on the verge of a second recession.
The U.S. sector expanded for a 13th straight month in August, coinciding with gains in Chinese manufacturing and auto sales.
The news gave Wall Street a boost, with investors overlooking dismal reports on U.S. auto sales and construction spending. The Dow Jones industrial average closed 253 points up.
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