The pace of U.S. manufacturing growth held at its slowest in almost two years in April, as a rebound in new orders was offset by employment shrinking to its lowest level in more than five years, according to an industry report released on Friday.
The Institute for Supply Management said its index of national factory activity was 51.5 in April, matching the March reading, which had been the lowest since May 2013. The reading fell shy of expectations of 52.0, according to a Reuters poll of economists.
A reading above 50 indicates expansion in the manufacturing sector. This was the 29th-consecutive headline reading at or above 50.
