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New Orders for US Manufacturing Plunge 7.6 Percent to Great Recession Levels

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As the coronavirus crisis ballooned into a full-blown pandemic in March, economic activity in the manufacturing sector contracted in response, the nation’s supply executives said in the latest Manufacturing Institute for Supply Management (ISM) “Report On Business.” Timothy R. Fiore, chair of the ISM manufacturing business survey committee, said the March purchasing manager’s index (PMI)…

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