U.S. manufacturing activities moderate in January
Xinhua, February 3, 2015 Adjust font size:
Economic activity in the U.S. manufacturing sector expanded at slower pace in January as manufacturers hesitated amid falling oil prices and stronger dollar, an industry survey showed on Monday.
The manufacturing index, also known as the purchasing managers index (PMI), registered 53.5 percent, a decrease of 1.6 percentage points from a month ago, the Institute for Supply Management (ISM) said in a report.
It indicated expansion in manufacturing for the 20th consecutive month, and the overall economy grew for the 68th consecutive month.
A reading above 50 percent indicates the sector is generally expanding, while a reading below the ratio indicates contraction.
The New Orders Index, the Production Index and the Employment index fell from a month earlier.
Of the 18 manufacturing industries, 14 reported growth. The two industries reporting contraction are textile mills and nonmetallic mineral products.
Respondents of the business survey generally remained positive, and some said the agriculture equipment production remained weaker than previous year as farm commodity prices remained low. Endite