The U.S. manufacturing sector experienced growth in January for the first time in six months, signaling renewed momentum for the nation’s industrial base as factory output and hiring rose, buoyed by the largest monthly jump in optimism in more than four years.
According to the S&P Global Flash U.S. Purchasing Managers’ Index (PMI) report, released on Jan. 24, the manufacturing PMI rose to 50.1, crossing the critical 50-point threshold that separates expansion from contraction.
The improvement in America’s factories was supported by a rebound in new orders and increased production, marking a turning point after months of subdued activity. New orders in the goods-producing sector rose for the first time in seven months, while output reversed the declines recorded over the past five months….