The US manufacturing sector kicked off the year with a strong surge in January, the latest survey has shown. This was the sixth consecutive month of expansion in the sector leading the economic recovery.
The Institute for Supply Management said its manufacturing index, also known as the purchasing managers index, climbed to 58.4% in January from 54.9% in December.
It was the highest PMI reading since August 2004, when the index registered 58.5%.
The reading was much stronger than the 55.5% expected by most analysts. Any number above 50% indicates growth.
13 of 18 industries surveyed reported growth, up from nine industries last month.
