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US manufacturers shrink for 2nd month amid slowdown

US manufacturing shrinks for 2nd month amid global slowdown

WASHINGTON — U.S. manufacturers contracted in December at the fastest pace in more than six years as factories cut jobs and new orders shrank. The Institute for Supply Management said Monday that its index of factory activity fell to 48.2 from 48.6 in November. Any reading under 50 signals contraction. The figures suggest that the troubles weighing on manufacturers last year ...

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U.S. import prices extend decline on cheaper oil

WASHINGTON – – U.S. import prices fell in November as the cost of petroleum and several goods continued to decline, suggesting that cheaper crude oil and a strong dollar will keep imported inflation pressures subdued for a while. The Labor Department said on Thursday import prices dropped 0.4 percent last month after a revised 0.3 percent decrease in October. Import prices ...

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US factory activity drops in Nov.; first decline in 3 years

WASHINGTON — U.S. factory activity plummeted last month to the lowest level in more than six years, with a stronger dollar and low oil prices cutting new orders and hurting production. The Institute for Supply Management said Tuesday that its index of factory activity in November dropped to 48.6 from 50.1 in October. Any reading below 50 signals contraction and ...

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U.S. labor market tightens, strong dollar causing headwinds: Fed

WASHINGTON – U.S. labor markets continued to tighten but with little impact on wage growth while manufacturing across the United States is hurting from the recent strength of the dollar, the Federal Reserve said on Wednesday. Overall, U.S. economic activity continued to expand modestly from mid-August through early October, the Fed said in its Beige Book report of anecdotal information on ...

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IHS cuts its forecast as demand dips from energy clients

Business research firm IHS Inc slashed its full-year revenue and adjusted profit forecast due to a strong dollar and spending cuts by oil producers amid a slump in crude prices. The company’s shares fell as much as 10 percent in early trading on Tuesday. IHS gets about 40 percent of its revenue from energy companies, many of which have reduced ...

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