Manufacturing expands at slowest pace since 2013

April 1, 2015 4:49 PM

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WASHINGTON • Factories expanded in March at the slowest pace since May 2013, a sign struggling overseas economies and cutbacks among oil producers are hindering U.S. manufacturing.

The Institute for Supply Management's index declined to 51.5 from 52.9 a month earlier, the Tempe, Ariz.-based group's report showed Wednesday. Readings above 50 indicate growth and the median forecast in a Bloomberg survey of economists was 52.5.

Also read: U.S. jobless claims drop from five-month high

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