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US data shows economy on track

Manufacturing and business activity in parts of the US gathered steam in November, data showed yesterday, keeping the economy on track for recovery, though continued weakness in the labour market will constrain growth, economists said. Business activity in the Midwest and in New York City expanded more than anticipated in November, according to the Institute of Supply Management. The ISM-Chicago business barometer grew faster than anticipated in November, rising to 56.1, above the 50 mark that divides expansion from contraction.