• U.S. Purchasing Managers Say Manufacturing Tanked in August

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”Economic activity in the manufacturing sector contracted in August for the third time since July 2009; however, the overall economy grew for the 39th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business®…. ”Manufacturing contracted in August as the PMI™ registered 49.6 percent, a decrease of 0.2 percentage point when compared to July's reading of 49.8 percent. ”A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting. A PMI™ in excess of 42.6 percent, over a period of time, generally indicates an expansion of the overall economy.” Source: Institute for Supply Management

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