Gold price drops below $1,850 as flash PMI data rises more than expected in February
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Meanwhile, activity in the service sector was also stronger than expected rising into expansion territory to 50.5., up from January’s reading at 46.8. Economists were looking for a print around 47.3. Activity in the service sector it at its highest level in eight months, the report said. Readings above 50 in such diffusion indexes are seen as a sign of economic growth and vice-versa. The farther an indicator is above or below 50, the greater or smaller the rate of change.
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