May 1st, 2009 - MarketWatch
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WASHINGTON (MarketWatch) - The factory sector contracted again in April, but the pace of decline slowed, according to the Institute for Supply Management index released Friday.
The ISM purchasing managers' index rose to 40.1% from 36.3% in March. It's the highest since September, when the global financial crisis intensified.
"While this is a big step forward, there is still a large gap that must be closed before manufacturing begins to grow once again," the ISM said in a release.
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