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Business Activity in U.S. Cools More Than Forecast

Business activity in the U.S. cooled more than projected in June, a regional report showed, as fiscal constraints and stagnant export markets buffeted manufacturers.

The MNI Chicago Report’s business barometer dropped to 51.6 this month from 58.7 in May, which was the highest in more than a year. A reading of 50 is the dividing line between expansion and contraction. The median forecast of 56 economists surveyed by Bloomberg was 55.