Activity in the U.S. manufacturing sector continued to expand in the month of May, according to a report released by the Institute for Supply Management on Friday, although the pace of growth slowed by more than economists had anticipated.
The ISM said its purchasing managers index fell to 53.5 in May from 54.8 in April, although a reading above 50 indicates continued growth in the manufacturing sector. Economists had been expecting the index to edge down to a reading of 54.0.
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