Business Activity in U.S. Expands Faster Than Forecast
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Business activity in the U.S. expanded at a faster pace than forecast in March, signaling manufacturing remains a driver of growth in the world’s largest economy.
The Institute for Supply Management-Chicago Inc. said today its business barometer fell to 70.6 this month from February’s 71.2 reading that was the highest since July 1988. The index exceeded the 69.9 median forecast of economists surveyed by Bloomberg News. Figures greater than 50 signal expansion.