Manufacturing Expansion Slows in May
Washington, DC, June 2, 2014 -- Manufacturing continued to expand in May but at a slower pace, according to the Institute for Supply Management’s factory index.
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The index fell to 53.2 in May from 54.9 in the prior month. Readings above 50 indicate expansion.
The new-orders index dropped 1.8 points to 53.3, and production edged down to 55.2 from 55.7.
The employment index dropped 2.8 points to 51.9%, the second lowest reading since last summer.