Investing.com - The rate of growth in the economy's manufacturing sector slowed, but remained solid in April, according to a report released on Tuesday.
The Institute of Supply Management said its manufacturing purchasing managers' index ticked down to 57.3 in April, from 59.3 the previous month.
Economists had forecast a reading of 58.6.
The prices paid sub-index rose to 79.3 from 78.1 in March, which was the highest reading since April 2011. The employment sub-index declined to 54.2 from 57.3 previously.
A reading above 50 for the index indicates expansion in the sector, and a reading below 50 signals contraction.
