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BNY-Mellon says Mar's 57.3 nonmfg ISM marks a 20th consecutive month of growth "and the second month that all index components were in expansionary territory." Members were concerned about "the recent natural disasters in Japan and the associated supply chain ramifications. Additionally, there is concern over rising costs, most notably for fuel and fuel products." Services are "consistent with the 3-4% growth trajectory for 2011" and employment is expanding in both mfg and nonmfg ISM surveys, BNY says.
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