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Wednesday, June 3, 2009

Non-Manufacturing Continues Slide

Marketwatch reports:

Business worsened in May in the nonmanufacturing sectors of the U.S. economy for the eighth consecutive month, according to the Institute for Supply Management. The ISM nonmanufacturing index rose to 44% from 43.7% in April. Economists were expecting an increase to 46%. Readings under 50% indicate that most firms say business conditions worsened in May compared with April. The new orders index fell to 44.4% from 47%.

Source: ISM