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US Factory Gauge Eases From Two-Year High as Employment Cools

December 1, 2020

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U.S. manufacturing expanded at a slower pace in November, easing back from the strongest reading in two years as orders, employment and production cooled.

A gauge of factory activity fell 1.8 points to 57.5, according to data from the Institute for Supply Management released on Dec. 1. The figure, slightly below the median estimate of 58 in Bloomberg’s survey of economists, showed conditions remain well above the 50 level that indicates growth. Sixteen of 18 manufacturing industries reported growth in November, ISM said in a statement.

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