TEMPE, Ariz.----Economic activity in the manufacturing sector failed to grow in May, while the overall economy grew for the 79th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business®.

The Indian economy is sputtering, one group of analysts warns. Monetary tightening has gone too far, business leaders complain. Domestic interest rates need to be eased, some economists say.

It wasn't news, hardly, when another mill in the once textile-rich Piedmont announced in January it would fire 400 workers and ship jobs and equipment to Mexico.

=================================================================== Industrial Production ! Consensus: ! Jul Jun ! Ind Prod: Unch ! Industrial Production: +0.2% +0.4%r ! Capacity: 79.8% ! Capacity Utilization 79.9% 79.8%r ! Actual: ! ! Ind Prod: +0.2% ! !

SYDNEY, April 21 (Reuters) - Asian shares may rise on Monday, after upbeat earnings from U.S. business bellwethers such as Caterpillar Inc CAT.N helped ease concerns about the impact of a slowing U.S. economy on company profits.