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July's national manufacturing purchasing managers index (M-PMI) will be released on Monday. Will investors cheer it?
The regional business surveys conducted by five of the 12 Federal Reserve district banks suggest that the M-PMI should fall closer to 50.0 from June's 53.0 (chart below). The M-PMI's prices-paid index, which remained very high at 78.5, should also moderate somewhat, according to the regional surveys.
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