TEMPE, AZU.S. factories showed a third straight month of growth in January, and new orders and production continued to grow.
According to the Institute for Supply Management’s (ISM) index of manufacturing business conditions, manufacturing came in at 53.9, a slightly slower pace than December’s 55.2, but still above the 53.7 ISM economists had forecasted. Any reading above 50 generally indicates a growth in manufacturing, while a reading below 50 generally signals a decline in the sector.