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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.

U.S. business activity expands faster than expected

Posted by RJ and Makay on Sep 02, 2011

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U.S. business activity expanded in August at a faster pace than previously forecasted, alleviating worry that the manufacturing sector was slumping, the Institute for Supply Management-Chicago, Inc. (ISM) said yesterday. The ISM business barometer fell to 56.5 in August, from 58.8 in July, which exceeded the highest estimate of 51 economists surveyed by Bloomberg News.