3/1/2012 11:45:00 PM
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U.S. manufacturing activity slipped from a seven-month high in February but showed continued expansion, the Institute for Supply Management said Thursday.
ISMâ€™s monthly factory index fell to a reading of 52.4, from 54.1 in January, the group said in its monthly report. Figures over 50 indicate expansion.
February marks the indexâ€™s 30th straight month of expansion. The index came in below economistsâ€™ projections of 54.5 reading, Bloomberg reported.
ISMâ€™s factory index measures manufacturing components of the economy.
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