Economic activity in the manufacturing sector expanded in January, say the nation's supply executives in the latest Manufacturing ISM Report On Business.
The report was issued by the Institute for Supply Management Manufacturing Business Survey Committee.
The PMI rose 2.3 percentage points, signaling stronger performance in January when compared to the seasonally adjusted 48.4 percent recorded in December. This represents a return to the recent trend of slow growth in manufacturing, as the PMI has averaged 50.2 percent for the past six months.
The PMI was driven by the Production Index, which made a rebound of 6.6 percentage points during the month, while the New Orders Index reflected a slight decline at 49.5 percent.
6/15/2009 Latest ISM index driven by production, while new orders stage a decline.