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"Manufacturing is still moving along quickly"
- Samuel Coffin, an economist at UBS Securities
U.S. business activity advanced at a slower pace in October, com-pared to September. An index measuring business conditions de-clined to 58.4 points in October from 60.4 points the prior month, said the Kingsbury International Ltd. A level above 50 points indi-cates expansion.
"Manufacturing is still moving along quickly," said Samuel Coffin, an economist at UBS Securities in Stamford, Connecticut. "It seems pretty broad-based, autos helped. We have growth perking along in the fourth quarter."
Institute for Supply Management is to announce its Purchasing Man-agers' Index later this day. Economists expect the reading to ad-vance 0.7 points to 52.3 points in October.