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Report - Manufacturing ratchets down

March 03 2008

Economic activity in the U.S. manufacturing sector contracted in February, according to the Institute for Supply Management. Its key purchasing managers' index for manufacturing slipped to 48.3 in February from 50.7 in January. Readings of more than 50 indicate the economy is expanding.

The employment portion of the index fell to 46.0 in February from 47.1 in January.

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