The manufacturing sector grew for the 20th consecutive month in January, though at a slower pace than one month earlier, a private research group reported Tuesday.
The Institute for Supply Management said its index of national manufacturing activity slipped to 56.4 in January from 57.3 in December, below forecasts for a dip to 57.
A reading of 50 or above in the index means the manufacturing sector is expanding, while a figure below 50 represents a contraction.
While the index declined in January, the fact that it remained above 50 indicates that the sector continued to grow last month.