Manufacturing in the U.S. probably expanded at a slower pace in April than a month earlier, indicating the industry that spurred the recovery almost three years ago is cooling, economists said before a report today. The Institute for Supply Management’s factory index eased to 53 last month from 53.4 in March, according to the median estimate of 77 economists surveyed by Bloomberg News. Readings greater than 50 signal growth. Construction spending rose in March for the first time in three months, other data may show. Less demand for business equipment, a smaller buildup in inventories and recession in Europe may limit ... (full story)