NEW YORK (Reuters) – The U.S. manufacturing sector expanded in July, but the pace of growth decelerated to its weakest in nearly three years stemming from a broad decline in activities from the month before, an industry report released on Thursday showed.
The Institute for Supply Management (ISM) said its index of national factory activity fell to 51.2, the lowest reading since August 2016.
This compared with a figure of 51.7 in June. Analysts polled by Reuters had forecast a reading of 52.0 for July.
Reporting by Richard Leong; Editing by Bernadette Baum