The U.S. manufacturing sector expanded in August at a slower pace than the previous month, a trade group said Tuesday, according to AP. The Tempe, Arizona-based Institute for Supply Management, an organization of corporate purchasing executives, said its index of business activity in the manufacturing sector registered 52.9 in August, down from 53.8 in July. Wall Street economists were expecting a reading of 53, according to Thomson Financial/IFR. Readings above 50 indicate expansion and below 50 indicate contraction.
