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Strong Manufacturing Revival Seems to Be Fading
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The Institute of Supply Management reported that its index for the U.S. in May dropped significantly from 60.4 to 53.5. A score above 50 indicates that business is improving. At the same time the Bureau of Labor Statistics reported a rise in the unemployment rate from 9.0 to 9.1%. The drop of 6.9 points for the ISM Index is the largest one month drop since Jan 1984.
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