RTTNews - While the Institute for Supply Management released a report on Wednesday showing a continued contraction in manufacturing activity in the month of June, the pace of contraction slowed from the previous month amid some encouraging signs for the sector.

The ISM said its index of activity in the manufacturing rose to 44.8 in June from 42.8 in May, with a reading below 50 indicating a contraction in the sector. The index came roughly in line with the expectations of economists, who forecast a reading of 44.6.

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