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• Monday, June 07th, 2010

Four reports Thursday show the U.S. economy is still recovering, albeit it slowly. The reports:

• The Institute for Supply Management said its Non-Manufacturing Index registered 55.4% in May, the same as April and March. A reading above 50 indicates growth in the services sector.

The report is considered a key gauge for the health of the jobs market because the service sector accounts for 80% of workers, outside of farm workers.

• Orders to U.S. factories increased in April as a surge in demand for commercial aircraft offset weakness in other areas.

• First-time claims for unemployment benefits dropped 10,000 the week ended May 29, to a seasonally adjusted 453,000, according to the Labor Department.

• Revised figures show productivity grew at a slower rate in the first three months of the year than previously thought, a possible sign that businesses are reaching the limits of their ability to boost output with fewer workers.

usa today Article Courtesy of USA Today. Click here to read the full story
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