Growth Slows

Export figures are based on fob values excluding re-export; import figures on cost, insurance, and freight. Sources: Haver Analytics (New York), based on data from the U.S. Dept. of Commerce and The Federal Reserve Board. The manufacturing sector failed to grow in April, according to the most recent data released by the Institute for Supply Management (ISM; Tempe, AZ). “Manufacturers are in a situation where both new orders and production are slowly declining, but prices continue to rise at highly inflationary rates,” says ISM chairman Norbert Ore...

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