ISM: U.S. Manufacturing Expands In May

Private trade group says its manufacturing index fell to 59.7 in May from 60.4 in April, but the reading still indicates that the sector expanded for?10th consecutive month.

WASHINGTON (AP) -- A private trade group says the U.S. manufacturing sector expanded in May, marking the 10th consecutive month of growth.

The Institute for Supply Management, a trade group of purchasing executives, says its manufacturing index dipped to 59.7 in May from 60.4 in April. A level above 50 indicates expansion.

Economists polled by Thomson Reuters had expected the index to dip slightly to a reading of 59.

New orders, a gauge of future production, were unchanged at 65.7.

ISM says its employment index, which measures employers\' willingness to hire, rose 1.3 percentage points to 59.8.