U.S. manufacturing grew for a third straight month in May, but factories appeared to be taking in fewer deliveries from their suppliers, which could hamper production in the months ahead. Other data on Wednesday showed automobile sales slowing last month and a sharp drop in construction spending in April, bucking the recent flow of relatively strong data that suggested economic growth was regaining speed in the second quarter. The Institute for Supply Management (ISM) said its index of national factory activity rose half a percentage point to a reading of 51.3 last month, with a jump in prices paid by factories for raw materials also accounting for the increase. A reading above 50 indicates expansion in the manufacturing sector, which accounts for 12 percent of the U.S. economy. The ISM’s supplier […]