U.S. manufacturing expanded in March for the the seventh straight month, although at a slower pace than in February, a new survey shows.
The Institute for Supply Management (ISM) said Monday that their latest index fell slightly to 57.2 last month from 57.7 the previous month, which was the highest level in more than two years.
Any reading above 50 is a sign of growth.
New orders and production continued to expand, but more slowly, in March, while hiring and new export orders grew faster, ISM reported.
New orders were at 64.5 in March, a drop from 65.1 in February, while production posted a 57.6 in March down from 62.9 in February.
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