U.S. Manufacturing Growth Weakest Since Mid-2013, ISM Says

WASHINGTON - U.S. manufacturers grew at the slowest pace in August in more than two years, a survey of executives found. The Institute for Supply Management said its manufacturing index dropped to 51.1% last month from 52.7% in July, falling short of the 52.2% forecast of economists surveyed by MarketWatch. Readings over 50% indicate more companies are expanding instead of shrinking. The ISM's new-orders index dropped 4.8 points to 51.7%, the lowest since May 2013. The employment gauge slipped 1.5 points to 51.2%. And the exports index fell 0.5 points to 46.5%, reflecting a tougher climate for U.S. companies that sell into the world market.