WASHINGTON, June 2 (UPI) -- Manufacturing output for May slowed down after seeing a significant pickup in April, as orders and production slowed and factories added fewer jobs.
The Institute for Supply Management's factory index fell to its lowest level in three months, falling to 53.2 percent in May from last month's 54.9 percent, according to the group's report. Anything above 50 percent represents growth in manufacturing output, but May's numbers are still lower than the 55.5 percent gain estimated by economists polled by Bloomberg.