US manufacturing growing, but pace cools: ISM survey

WASHINGTON (AFP) - Factory activity in the United States kept growing in September, but at a slightly cooler pace, according to the Institute for Supply Management.
The ISM index fell to 58.5 percent in September from 59.0 percent in August. The decline was in line with expectations, with Wall Street analysts expecting a figure of 58.3.
Any number above 50 indicates expansion, and the ISM said September marked the 16th straight month of expansion.
Among the various components of the report, new orders fell to 58.1 in September from 61.2 in August. The employment index rose to 58.1 in September from 55.7 in August.
"The manufacturing sector continued to grow during September, but at a slightly slower rate," ISM survey chief Norbert Ore said Friday.
"Both new orders and production remain strong, and employment growth accelerated."