ISM Manufacturing Index Shows Slightly Accelerating Contraction

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The manufacturing composite index declined .2 to 49.6. This is the third consecutive month of a contracting manufacturing sector, but as any value above 50 indicates expansion, the decline is small. In a surprising shift, the price index shot up 14.5 points to 54. This rapid increase followed a three-month decline with values in the mid-30’s. In addition, the employment index fell .4 to 51.6, though it is still expanding.

From the ISM and the St. Louis Federal Reserve

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