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.
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.