US factory activity growth slows

US manufacturing activity slowed for a second straight month in April, though the rate of growth remained strong, an industry report showed on Thursday. Financial data firm Markit said its final US Manufacturing Purchasing Managers Index was 55.4 in April, down slightly from 55.5 in March but even with last week's preliminary read. Readings above 50 indicate expansion in the sector. While the index remained below February's level, which had been the highest since May 2010, it was comfortably ahead of January's 53.7 reading, suggesting the effects of a harsh winter have started to fade.