Nirmal Bang Securities Pvt. Ltd. - Daily Report 040210

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Service industries in the U.S. expanded less than anticipated in January, a sign the recovery will be slow to spread from manufacturing to the rest of the economy. The Institute for Supply Management’s index of non‐ manufacturing businesses, which make up almost 90 percent of the economy, climbed to 50.5 from 49.8 in December, figures from the Tempe, Arizona‐based group showed today. Readings above 50 signal growth. Other reports showed firings eased last month.

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