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U.S. Manufacturing Index Dips to Lowest Level in Almost a Decade

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Citi's Levkovich Doesn’t See ISM Data Pointing to a Recession

The U.S. Manufacturing Purchasing Managers’ Index fell by more than two-points to 50.5 in May, the lowest level since Sept. 2009, according to IHS Markit. New orders contracted for the first time since August 2009.

The overall index has fallen by almost six points over the last year.