US Factory Gauge Falls to Two-Year Low as Orders Cool

A gauge of U.S. factories fell to a two-year low, cooling more than expected with a broad decline that suggests economic growth is moderating, though the drop may reflect some weather-related disruptions. The Institute for Supply Management index fell to 54.2 from 56.6 as four of the five main components—orders, employment, production and deliveries—all saw declines….