US manufacturing contracts for 5th month – ISM

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WASHINGTON, D.C.: US manufacturing activity contracted for the fifth straight month in February, although many sectors reported good demand domestically, the Institute for Supply Management (ISM) reported on Tuesday. The ISM purchasing managers index for the manufacturing sector registered 49.5, below the threshold of 50 between growth and contraction. That, however, was better that January’s level of 48.2, and the best since September. A year ago the ISM’s PMI for manufacturing was 52.3.

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