Manufacturing Sector Growth Slows in January

Washington, DC, Feb. 2, 2015 -- Growth in the U.S. manufacturing sector slowed in January more than expected, according to the Institute for Supply Management.

ISM said its index of manufacturing activity fell to 53.5 from 55.1 in December. Economists were looking for a reading of 54.5.

A reading above 50 indicates expansion.

While most components of the index declined, it was still the 27th consecutive month of growth in manufacturing.

The new orders index fell to 52.9 from 57.8. The prices paid index fell to 35 from 38.5.