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The Institute for Supply Management released its manufacturing purchasing managers' index for the U.S. on Monday. The index declined to 50.1 in October from 50.2 in September, beating expectations for a fall to 50.0. It was the lowest level since May of 2013.
A reading above 50 indicates expansion, below indicates contraction.
The decline was partly driven by a fall in production. The employment index was down to 47.6 in October from 50.5 in September.
The production index increased to 52.9 in October from 51.8 in September.
The new orders index rose to 52.9 in October from 50.1 in September.
The price index was up to 39.0 in October from 38.0 in September.
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