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JP Morgan economist Daniel Silver.....>

US DATA REACT
US DATA REACT: JP Morgan economist Daniel Silver said "this morning's reports
brought mixed news on the manufacturing sector" as US "industrial production
disappointed in July (0.2%), with manufacturing output inching down 0.1% during
the month."
- But he adds that "while the Philadelphia Fed survey's headline declined
slightly in August, many of the important details improved, and the two regional
surveys we have so far for the month look upbeat. So while the trend in
manufacturing output has been cooling in the data reported through July, the
August surveys suggest that activity will pick up ahead."

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