Economics
Manufacturing in U.S. Expands at Slowest Pace This Year
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Manufacturing expanded in April at the slowest pace this year and companies took on the fewest workers in seven months, adding to evidence of a slowdown in the world’s largest economy.
The Institute for Supply Management’s factory index fell to 50.7 from the prior period’s 51.3, the Tempe, Arizona-based group said today. Fifty is the dividing line between growth and contraction. The ADP Research Institute said private payrolls rose 119,000 last month, the least since September, while another report showed construction outlays slumped in March.