While you were sleeping: Manufacturing activity hit

Mon, 02 Jul 2012

By Margreet Dietz July 3 (BusinessDesk) - A bigger-than-expected slide in US manufacturing weighed on Wall Street, bolstering concern about a slowdown in the pace of expansion in the world's largest economy. That fear was muted by expectations the US Federal Reserve will take action to help accelerate growth if needed. The Institute for Supply Management said on Monday its index of national factory activity dropped to 49.7 in June from 53.5 in May. That fell short of expectations for the 52.0 reading predicted in a Reuters poll of economists...

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