Wednesday, August 01, 2012

US Manufacturing Contracts

Again.
Manufacturing in the U.S. unexpectedly contracted for a second month in July, showing a mainstay of the economy was struggling to improve as global economies weakened. 
 And of course, it was unexpected. 
The Institute for Supply Management’s factory index was little changed at 49.8 last month from 49.7 in June. Fifty marks the dividing line between expansion and contraction. Economists surveyed by Bloomberg News projected a reading of 50.2, according to the median estimate.

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