By ELLEN SIMON, AP Business Writer 11 minutes ago NEW YORK - Higher prices, tight credit and a gloomy economy kept U.S. manufacturers from growing in July, but exports helped prop them up.The Institute for Supply Management said its reading of activity from the country's producers of cars, airplanes, appliances and food hit 50, down from 50.2 in June.
That beat economists' prediction of a reading of 49.2, according to the consensus estimate of Wall Street economists surveyed by Thomson Financial/IFR. A reading above 50 signals growth.
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