US manufacturing sector expanded but a slower pace in March according to the Institute for Supply Management (ISM). ISM manufacturing PMI fell to 51.5 in March from 52.9 printed in February and missing consensus of 52.5. Although the sector is still expanding (reading above the 50.0 threshold), the pace has been slowing for fifth month in a row, sending the index to the lowest level in almost two years. Just a few minutes before the ISM, Markit reported its own manufacturing PMI which rose to 55.7 from 55.1 in February.