(RTTNews) - Activity in the manufacturing sector showed a slight contraction in the month of August, according to a report released by the Institute for Supply Management on Tuesday, although the report also showed a slowdown in the pace of price growth.

The ISM said its index of activity in the sector edged down to 49.9 in August from 50.0 in July, with a reading below 50 indicating a contraction in the sector. Economists had been expecting to index to slip to a reading of about 49.5.

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