The pace of growth in the manufacturing sector picked up in January to its highest level since June as new orders improved, according to an industry report released on Wednesday.
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The Institute for Supply Management (ISM) said its index of national factory activity rose to 54.1 from a revised 53.1 the month before, falling shy of expectations for 54.5.
A reading above 50 indicates expansion in the manufacturing sector.
New orders gained to 57.6 from 54.8, while the employment index slipped to 54.3 from 54.8.