Business Activity in U.S. Shrank in October for Second Month
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Business activity in the U.S. unexpectedly contracted in October for a second month, adding to signs manufacturing has retreated from its central role in the economic recovery.
A gauge from the Institute for Supply Management-Chicago Inc. rose to 49.9 from 49.7 in September. A reading of 50 is the dividing line between expansion and contraction. The median estimate of 54 economists surveyed by Bloomberg was 51.