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Economic Report: U.S. manufacturers grow at slowest pace since late 2016 on trade worries, ISM finds

Bloomberg
A worker welds metal components. American manufacturers are still expanding, but at a much slower pace compared with last year.

The numbers: U.S. manufacturers grew in June at the slowest pace in more than two years, hurt by trade tensions with China and Mexico and weak exports, a survey of executives found.

The Institute for Supply Management said its manufacturing index slipped to 51.7% in June from 52.1% in the prior month.

Readings over 50% indicate more companies are expanding instead of shrinking, but the index has fallen three months in a row and is well off recent highs.

The index hit a 14-year peak of 60.8% last August, but it began to decline after a U.S.

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