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Factories in U.S. Expand at a More Sustainable Pace: Economy

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Manufacturing moderated at the end of last year to a more sustainable pace of growth as U.S. factories adjusted to weaker overseas markets and steady demand from domestic customers.

The Institute for Supply Management’s factory index dropped to a six-month low of 55.5, less than forecast, from 58.7 in November, a report from the Tempe, Arizona-based group showed today. In October, the reading matched a three year-high.