US Economic Activity in Manufacturing Rose in January

Economic activity in the manufacturing sector expanded in January, according to The Institute for Supply Management on Wednesday, with the overall economy growing for the 92nd consecutive month.

The U.S. manufacturing index hit 56 in January, an increase of 1.5 percentage points from December. Economist expected the index to hit 55 for the month, according to a Thomson Reuters consensus estimate.

A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.

“The PMI, New Orders, and Production Indexes all registered their highest levels since November 2014, and comments from the panel are generally positive regarding demand levels and business conditions,” Bradley Holcomb, chair of the Institute for Supply Management, said in the report.

The report also said the New Orders Index, which includes companies in apparel, chemical products, paper products and more, registered at 60.4 percent, an increase of 0.1 percentage point from December. The Employment Index registered at 56.1, an increase of 3.3 percentage

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza