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Survey: US factories expanded in June, but pace slowed from May; production index slips

U.S. manufacturing grew in June for the 13th straight month. But the pace of the expansion slowed from May.

The Institute for Supply Management says its manufacturing index dipped to 55.3 in June from 55.4 in May. Any reading higher than 50 signals that manufacturing is expanding.

The trade group of purchasing managers says orders rose at a faster pace last month compared with May. But growth in production slowed. A measure of employment shows that factories added jobs for the 12th straight month at the same pace as in May.

Fifteen of 18 manufacturing industries grew in June, led by furniture makers and mineral producers.

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