The pace of expansion in the U.S. manufacturing sector slowed sharply in March to the lowest level since December, according to the closely followed ISM index. The Institute for Supply Management index fell to 51.3% from 54.2% in February. Economists surveyed by MarketWatch had expected the index to hold steady at 54.2%. Reading over 50 indicate more manufacturers are expanding instead of contracting. The ISM's new-orders gauge sank to 51.3% from 57.8%. The production index dropped to 52.2% from 57.6%. The only bright spot was the employment gauge, which rose to 54.2% from 52.6%. Also Monday, a similar manufacturing ... (full story)