Manufacturing expanded in January
Economic activity in the manufacturing sector expanded in January, according to the latest Manufacturing ISM Report On Business.
The January PMI registered 56 percent, an increase of 1.5 percentage points from the seasonally adjusted December reading of 54.5 percent. The New Orders Index registered 60.4 percent, an increase of 0.1 percentage point from the seasonally adjusted December reading of 60.3 percent. The Production Index registered 61.4 percent, 2 percentage points higher than the seasonally adjusted December reading of 59.4 percent.
"The PMI, New Orders, and Production Indexes all registered their highest levels since November of 2014, and comments from the panel are generally positive regarding demand levels and business conditions,” said Bradley J. Holcomb, chair of the Institute for Supply Management Manufacturing Business Survey Committee.