Manufacturing grows at the slowest rate in over two years

Washington

MANUFACTURING in the US expanded in August at the slowest pace since May 2013 as anaemic demand from emerging markets such as China translated into leaner factory order books.

The Institute for Supply Management's index fell to 51.1 from 52.7 in July, a report from the Tempe, Arizona-based group showed on Tuesday. A measure of exports matched the weakest reading since April 2009.

The dollar's ascent, which has accelerated since the middle of last year, is making it tougher for US producers to drum up overseas sales, prompting plants to slow hiring and production. While factories are finding some relief with robust car sales and a recent re…