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PG: PMI is Down: Long Defensive, Short Consumer Discretionary
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PMI is Down: Long Defensive, Short Consumer Discretionary

Of the 18 manufacturing industries, six are reporting growth in August in the following order: Printing & Related Support Activities; Nonmetallic Mineral Products; Computer & Electronic Products; Miscellaneous Manufacturing; Food, Beverage & Tobacco Products; and Chemical Products. The 11 industries reporting contraction in August — listed in order — are: ...

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