U.S. manufacturing grows at fastest pace since June 2011 - Business

U.S. manufacturing grew in April at the fastest pace in 10 months, according to the latest report from the Institute for Supply Management.

The institute, a national association of purchasing managers, said Tuesday that its index of manufacturing activity reached 54.8 in April, exceeding analysts' expectations.

That's the highest level since June and up from 53.4 the previous month. Readings above 50 indicate expansion.

U.S. manufacturing grows at fastest pace since June 2011 - Business