ISM Manufacturing Index Falls to 53.5 From 60.4

The overall economy grew for the 24th straight time, while the manufacturing sector expanded for the 22nd time, the Institute for Supply Management reported Wednesday.

According to the institute’s monthly report on business, the ISM index dipped to 53.5 in May from 60.4 in April.

Economists had predicted the index would slip to 58.0.

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