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The Institute for Supply Management releases its national factory index for April today.
The Institute for Supply Management's factory index was 53.7, the third consecutive month of expansion.
July's overall factory index showed the 18th consecutive month of growth.
While the group's factory index dropped to 54.7 from 55.7, any reading above 50 indicates expansion.
Economists had expected a reading of 61 in the factory index.
Economists had expected a reading of 44.5 in the factory index.
The Institute for Supply Management's factory index increased to 55.7 in May, from 53.9 in April.
The factory index was stronger than the 55.5 reading many analysts were forecasting.
The national factory index for August is scheduled to be released Tuesday.
Stocks extended losses after the Institute for Supply Management's factory index rose less than expected.
Also, the National Association of Purchasing Management reported a decline in its factory index.
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