U.S. manufacturing continued to recover in January, a bright spot for the U.S. economy as services companies continue to struggle with the coronavirus pandemic.
Two purchasing managers surveys on manufacturing activity released Monday pointed to continued growth, adding to evidence a pickup in demand for goods is helping U.S. factories.
The Institute for Supply Management’s manufacturing index ticked lower in January, to 58.7 from 60.5 in December, but remained in growth mode. A reading above 50 indicates activity is expanding across the manufacturing sector, while below 50 signals contraction.
