2 May 2001, 10:59 US manufacturing sector contracts for ninth straight month
New York, May 1 (BridgeNews) - The manufacturing sector contracted for
the ninth straight month in April, but prices are falling and businesses
are working through their backlog of inventory, the National Association
of Purchasing Management reported. The group said its index of economic
activity in manufacturing rose to 43.2 in April from 43.1 in March, but
remained below 50.0, the dividing line between economic growth and
contraction. Economists had expected a reading of 43.5.
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