Markit Index of Manufacturing in U.S. Rose to 56.1 in JanuaryShobhana Chandra
The Markit Economics preliminary index of U.S. manufacturing increased to 56.1 in January from 54 a month earlier, the London-based group said today.
A reading above 50 in the purchasing managers’ measure indicates expansion. The median forecast in a Bloomberg survey of economists was 53, with estimates ranging from 52 to 55.3.
Markit’s purchasers figure is based on replies from about 85 percent to 90 percent of those American manufacturers who respond to a poll of the more than 600 companies.
The Markit gauge of U.S. manufacturing debuted in May 2012. The company surveys purchasing managers in more than 30 countries and regions, including Europe and China.
China’s manufacturing expanding at the fastest rate in two years, bolstering prospects that economic growth will accelerate for a second straight quarter. The preliminary reading of a Purchasing Managers’ Index was 51.9 in January, according to a statement from HSBC Holdings Plc and Markit today.