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- U.S. manufacturing activity expands slightly more than initially estimated in January - HIS Markit
U.S. manufacturing activity expands slightly more than initially estimated in January - HIS Markit
The latest
report by IHS Markit revealed on Monday the seasonally adjusted IHS Markit
final U.S. Manufacturing Purchasing Managers’ Index(PMI) rose to 59.2 in January
2021, up from 57.1 in December 2020 and marginally up from the earlier released
“flash” reading of 59.1. The January reading pointed to the sharpest expansion
in factory activity since data collection began in May 2007.
Economists had
forecast the index to stay unrevised at 59.1.
According to
the report, the headline figure was pushed up to a record high by accelerated expansions
in output and new orders. Meanwhile, cost pressures intensified amid raw
material shortages, with selling prices rising at the fastest pace since July
2008.
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