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US manufacturing remains steady in Jan: Markit

by ChemOrbis Editorial Team -
  • 03/02/2015 (14:37)
According to a purchasing managers’ index (PMI) compiled by Markit Economics, manufacturing in the US remained stable in January compared with the previous month. Markit’s final PMI for the US manufacturing sector was reported unchanged on a monthly basis at a reading of 53.9 in January. January’s reading indicates a second consecutive month of expansion at the slowest pace of the past year. Any reading above 50 indicates expansion.

According to a different report released by the US Institute for Supply Management (ISM), the country’s manufacturing growth slowed to a reading of 53.5 in January from a reading of 55.5 in the preceding month. Analysts’ initial estimates called for a decline to a reading of 54.5 in January. The report showed that the new orders index decreased to a reading of 52.9 while the production index retreated a reading of 56.5 in January.
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