The overall economy grew for the 13th straight time after seven months of contraction, while the manufacturing sector expanded for the 10th time after 18 months of contraction, the Institute for Supply Management reported yesterday.

According to the ISM’s monthly report on business, the ISM index dipped to 59.7 in May from 60.4 in April. Economists polled by Thomson Reuters predicted the index would fall to 59.0.

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