Pace of U.S. Factory Growth Slows

[hang a left]

NEW YORK (Reuters) - Growth in U.S. factory activity slowed in August as new orders shrank and manufactures were forced to pay higher prices for supplies, a report on Wednesday showed.
The Institute for Supply Management said its index of national manufacturing activity fell to 59.0 in August from 62.0 in July.

But the August figure was still not far below January's two-decade high of 63.6, as growth continued for a 15th consecutive month.

Analysts polled by Reuters had forecast a median reading of 60.0. Any reading above 50 indicates growth.



http://reuters.com/newsArticle.jhtml?type=businessNews&storyID=6125147