US manufacturing rebounds sharply in January
ISM purchasing managers’ index recovers from a four-year low
03 February 2020 - 19:25
Washington — A gauge of US manufacturing rebounded sharply in January, topping estimates and signalling growth in the beleaguered sector for the first time because July.
The Institute for Supply Management’s (ISM) purchasing managers’ index, based on a survey of manufacturers, increased to 50.9 in January from an near four-year low of 47.8, according to Monday’s data. While just above the 50 level that signals expansion, the monthly advance was the largest since mid-2013. ISM last week revised data back to 2012. Stocks, bond yields and the dollar extended gains after the report...
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