WASHINGTON (Dow Jones) – The national index of purchasing managers in manufacturing in the United States has become significantly better than expected in January. According to the Institute for Supply Management (ISM) on Monday, it rose to a level of 58.4 points, reaching its highest level since August 2004. (Photo: ddp)
Economists surveyed by Dow Jones Newswires had forecast a rise to only 55.3 after the previous month for the index is a highly regarded state had been expelled from 54.9.
The index for new orders rose to 65.9, according to the information (previous month: 64.8). The sub-index for production was estimated at 66.2 (59.7). The employment component rose to 53.2 (50.2), for which delivery dates 60.1 (56.8) were reported, the index of the stocks showed a level of 46.5 (43.0). For the sub-index of prices, a value was cited by 70.0 (61.5).
A state of the ISM index above 50 indicates an expansion of manufacturing in the U.S., a level below that mark indicates a contraction. The ISM, however, stresses regularly that an index value indicates more than 41.2 points over a longer period of time still a growth in gross domestic product (GDP).
DJG / DJN / hab / sh