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The Institute for Supply Management released its manufacturing purchasing managers' index for the U.S. on Monday. The index declined to 53.5 in January from 55.5 in December, missing expectations for a decline to 54.9.
A reading above 50 indicates expansion, below indicates contraction.
Most components of the index fell, showing a slow growth in the manufacturing sector.
The new orders index fell to 52.9 in January from 57.8 in December.
The prices paid index declined to 35 in January from 38.5 in December. The employment index decreased to 54.1 from 56.
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