Washington, DC, Jan. 2, 2014 -- Manufacturing expanded at a slightly slower pace in December compared to the prior month, according to the Institute for Supply Management index.
ISM said its index fell to 57.0% from 57.3% in November.
Economists expected the index to drop to 56.6%. Reading over 50 indicate more manufacturers are expanding instead of contracting.
The new-orders index rose to 64.2% from 63.6% to mark the highest level since April 2010.