The pace of growth in the U.S. manufacturing sector rose in March, while new orders fell modestly, according to an industry report released on Monday. The Institute for Supply Management (ISM) said its index of national factory activity rose to 53.4 from 52.4 in February, beating economists' expectations of 53.0. A reading above 50 indicates expansion in the manufacturing sector, while a number below 50 means contraction. Meanwhile, new orders dropped to 54.5 from 54.9 and prices paid also fell to 61.0 from 61.5, ISM said.
