Economic activity in the manufacturing sector grew in January, with the overall economy notching an eighth consecutive month of growth, according to the Institute for Supply Management. ISM’s purchasing manager’s index registered 58.7%, down from the seasonally adjusted December reading of 60.5%. This figure indicates expansion in the overall economy for the eighth month in a row after contraction in March, April, and May. The employment index registered 52.6%, up from the seasonally adjusted December reading of 51.7%.
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