Manufacturing growth slows

Posted: Monday, April 4, 2011 6:02 pm

WASHINGTON (AP) — Manufacturing activity cooled off a bit last month after expanding in February at the fastest pace in nearly seven years.
The Institute for Supply Management says the sector grew for the 20th straight month. Its index of manufacturing activity dipped to 61.2 from 61.4 in February. Any reading above 50 indicates growth.
February’s reading was the highest in nearly seven years. The index bottomed out during the recession at 33.3 in December 2008, the lowest point since June 1980.   
Production increased at a faster pace last month, the report showed. New orders increased at a slower pace.
Manufacturing has been a key driver of economic growth and employment since the recession ended in June 2009.