NAPM: U.S. economy may have bottom

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New York--The National Association of Purchasing Management said Thursday that its monthly measurement of service sector spending rose 52.1 point in June--the largest increase in six months. A reading above 50 suggests an expanding economy, according to the NAPM. The measurement suggests that -- outside of manufacturing -- the economy is expanding without inflation. The index is compiled from monthly surveys of 370 purchasing executives in 62 separate service businesses.
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