US factories expanded at slowest pace in more than 2 years

WASHINGTON (AP) — American factories grew last month at the slowest pace in more than two years.
The Institute for Supply Management, an association of purchasing managers, says its manufacturing index dropped to 54.1 in December, down from 59.3 in November and lowest since November 2016. Anything above 50 signals growth, and American manufacturing has been on a 28-month winning streak.
Still, the December drop was bigger than economists had expected.
New orders, production and factory hir