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2002-11-10
The US economy continues to show signs of weakness.
In a way this is good. It reduces the amount of FFU products
produced.
Friday's rally came on the back of figures showing that US unemployment rose to 5.7% in October from 5.6% the previous month. The bad news from the jobs market coincided with a report from the Institute for Supply Management (ISM) showing a shrinking manufacturing industry. The closely watched ISM factory index showed a fall from 49.5 in September to 48.5 in October. Any reading below 50 indicates shrinkage in the industry.
John |
