The Institute for Supply Managment announced that its survey of purchasing managers fell to 55.2% in December versus 55.7% in December. Analysts had expected a drop to 55%. A reading over 50% indicates that companies are expanding rather than shrinking. so the current data indicates overall solid growth. However, only eight of the eighteen surveyed industries reported growth in December, down from 13 in November, while nine reported a contraction.
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