Manufacturing Expansion Slows in January

Washington, DC, Feb. 4, 2014 -- Manufacturing expanded at a slower pace in January, according to the Institute for Supply Management.

ISM said its index declined to 51.3% from 56.5% in December, which was the slowest rate in eight months.

Economists had expected the index to drop to 56.0%. Any reading over 50 indicate more manufacturers are expanding instead of contracting.