United States: Manufacturing index rebound to nine-month high in January
February 1, 2013
In January, the ISM manufacturing index reached 53.1% from a revised 50.2% in the previous month. The robust print surprised the market on the upside, as analysts had expected the index to remain stable at December's unrevised 50.7%. Building on the strong monthly increase, the index reached its highest level in nine months.
According to the ISM, "manufacturing is starting out the year on a positive note, with all five of the PMI's component indexes - new orders, production, employment, supplier deliveries and inventories - registering above 50 percent in January". Most notably, the new orders index advanced 3.6 percentage points to 53.3% and the employment index rose 2.1 percentage points to 54.0%.