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.
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.