Manufacturing expanded at a slower pace than forecast in April as factories continued to grapple with lax global demand and fallout from a weakened U.S. energy industry. The Institute for Supply Management’s index declined by 1 point to 50.8, barely above the 50 level that indicates stagnation, the Tempe, Arizona-based group’s report showed Monday. The median forecast in a Bloomberg survey of economists was 51.4. American factories have been beset by dollar strength and weak commodities prices for more than a year, as well as a recent cooling of household spending. While emerging economies are showing hints of ... (full story)