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August 1, 2007 10:20 AM, EDT

ISM Factory Index Slips in July

The Institute for Supply Management’s manufacturing index fell in July, ISM said Wednesday.

ISM’s factory index fell to 53.9 from 56 in June, the group said. Readings above 50 indicate expansion.

Economists had predicted the index would fell to 55, Bloomberg reported.

The production index fell 7.3 points to 55.6.

The ISM index measures U.S. manufacturing activity.