CHICAGO (Reuters) - Business activity in the U.S. Midwest contracted in June for a fifth straight month but at a less severe rate, even as production and new orders both slipped, a report showed on Monday.
The National Association of Purchasing Management-Chicago business barometer rose to 49.6 from 49.1 in May, and was the strongest since January.
"The fact that we are hanging around 50 is consistent with an economy that is hovering right above recession level, but is not in a recession," said Mark Vitner, economist at Wachovia Securities in Charlotte, North Carolina .
Full Story: Midwest business activity less weak in June (Reuters)
The National Association of Purchasing Management-Chicago business barometer rose to 49.6 from 49.1 in May, and was the strongest since January.
"The fact that we are hanging around 50 is consistent with an economy that is hovering right above recession level, but is not in a recession," said Mark Vitner, economist at Wachovia Securities in Charlotte, North Carolina .
Full Story: Midwest business activity less weak in June (Reuters)
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