US Economic Activity in Manufacturing Rose in January

February 1, 2017 Share Print 0

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

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Bio
Twitter
Google+
Latest Posts

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.