Institute For Supply Management News
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Manufacturing in the Philadelphia region unexpectedly contracted in May for the first time in three months as new orders retreated and factories cut back on employment and hours.
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Manufacturing in the New York region unexpectedly shrank in May as factories received fewer orders and sales stagnated.
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Following is the text of U.S. non- manufacturing conditions from the Institute for Supply Management.
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American employers took on more workers than forecast in April and the jobless rate unexpectedly fell to a four-year low of 7.5 percent, reflecting confidence in the outlook for the world’s biggest economy.
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Service industries in the U.S. expanded in April at the slowest pace in nine months, adding to signs that the world’s largest economy is cooling.
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U.S. stocks rose, sending the Dow Jones Industrial Average briefly above 15,000 for the first time, as employment picked up more than forecast in April and the jobless rate unexpectedly declined to a four-year low.
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U.S. stocks rallied, with the Dow Jones Industrial Average topping 15,000 during the day for the first time, and Treasuries slid as faster-than-forecast employment growth bolstered optimism in the world’s largest economy. Copper surged the most since 2011.
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The U.S. economy looks better placed to withstand a slowdown projected for the second quarter as the labor market keeps making progress.
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Orders placed with U.S. factories fell more than forecast in March as a cooling economy slowed demand for metals, mining equipment and military goods.
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Manufacturing expanded in April at the slowest pace this year and companies took on the fewest workers in seven months, adding to evidence of a slowdown in the world’s largest economy.
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