U.S. manufacturing expands at fastest pace in five years
By Ian Armitage
Manufacturing expanded in January at the fastest pace since August 2004, data released by the Institute for Supply Management (ISM) has shown
Its index of manufacturing activity moved to 58.4 in January, the best reading since August 2004, from 54.9 in December.
“This month’s report provides significant assurance that the manufacturing sector is in recovery,” said Norbert Ore, who directs the survey. “13 of 18 industries reported growth, up from nine industries last month, and this is a good indication that the impact of the recovery is expanding.”
The ISM said its new-orders index hit 65.9, from December’s 64.8, while the production index was 66.2, from 59.7.
The employment index stood at 53.3.
Edited by Ellie Duncan
SOURCE: www.ism.ws