(CercleFinance.com) – The US manufacturing sector returned to growth in January, posting a much stronger recovery than expected, shows the monthly survey by the Institute for Supply Management (ISM) published on Friday.
The ISM non-manufacturing index thus rose to 55.2 last month, after 49.2 in December, while economists were expecting an average figure of 50.5.
The new orders sub-index in particular jumped, reaching 60.4 in January against 45.2 the previous month.
After showing great resistance for most of 2022, the services ISM fell sharply in December, a correction that was considered overdone given the current resilience of the US economy.
According to ISM economists, the increase in statistics is essentially due to the improvement in logistical issues, even if the majority of participants in the survey simply believe that the activity is developing ‘in the right direction’.
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