August Business Activity in U.S. Expanded at Slower Pace
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Business activity in the U.S. expanded at a slower pace in August, indicating companies may hold the line on production until sales pick up.
The Institute for Supply Management-Chicago Inc. said today its business barometer fell to 53 this month from 53.7 in July. Figures greater than 50 signal expansion. Economists forecast the gauge would drop to 53.2, according to the median estimate in a Bloomberg survey.