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U.S. manufacturing sector growth dips slightly in June: ISM
July 1, 2014 / 2:06 PM / 3 years ago

U.S. manufacturing sector growth dips slightly in June: ISM

NEW YORK (Reuters) - The pace of growth in the U.S. manufacturing sector slowed very slightly in June, an industry report showed on Tuesday, though new orders accelerated to a six-month high.

Robotic arms spot welds on the chassis of a Ford Transit Van under assembly at the Ford Claycomo Assembly Plant in Claycomo, Missouri April 30, 2014. REUTERS/Dave Kaup

The Institute for Supply Management said its index of national factory activity was 55.3 in June, almost unchanged from May’s 55.4 reading. The report was modestly under the 55.8 reading expected by a Reuters poll of economists.

A reading above 50 indicates expansion.

The employment gauge was unchanged at 52.8, below expectations for a read of 53.2, while the forward-looking new orders subindex rose from 56.9 in May to 58.9, the highest reading since December. The production subindex fell to 60 from 61 in May.

Reporting by Ryan Vlastelica; Editing by Chizu Nomiyama

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