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Markit Economics released its preliminary manufacturing purchasing managers' index (PMI) for the U.S. on Friday. The U.S. preliminary manufacturing purchasing managers' index (PMI) rose to 54.3 in February from 53.9 in January, beating expectations for a decline to 53.7.
A reading above 50 indicates expansion in economic activity.
The Markit Chief Economist Chris Williamson said that "the U.S. economy has entered a slower growth phase".
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