Manufacturing Sector Barely Grows in April
Tempe, AZ, May 2, 2013 -- Manufacturing in the U.S. barely grew in April as the rate of growth fell to the lowest pace since December, according to the ISM index.
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The Institute for Supply Management index fell to 50.7% from 51.3% in March. Economists had expected the index to drop to 50.8%.
Readings over 50 indicate more manufacturers are expanding instead of contracting.
The new-orders measure rose to 52.3% from 51.4% but employment gauge declined 4 percentage points to 50.2%, the lowest level since November.