USA's Industry Loses Momentum

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USA's Industry Loses Momentum
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American manufacturing industry is doing slightly worse than expected.

The Purchasing Managers' Index, a business cycle indicator, for the industry fell slightly in August, to 47.9 compared to 48.0 in July, according to S&P Global.

The average forecast among economists was 48.1.

The development in the industry is one factor among several that can determine whether and how much the American central bank will lower the interest rate.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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