US manufacturing has started the year on a positive note, with new orders, production and employment all growing in January.
Economic activity in the US manufacturing sector expanded in January – the 30th consecutive month.
The Institute for Supply Management (ISM)’s Purchasing Managers Index (PMI) registered 54.1 per cent, following a December value of 53.9 per cent.
A reading of more than 50 per cent indicates that the manufacturing economy is generally expanding.
The New Orders Index increased 2.8 percentage points from December’s seasonally adjusted reading to 57.6 per cent, reflecting the 33rd consecutive month of growth in new orders.
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