Manufacturing Unexpectedly Surges in January

The Institute for Supply Management’s manufacturing index came in at 56.6 for January, easily surpassing economist expectations for 54 score.

This measure of economic activity, which is based on a monthly survey of purchasing managers at roughly 300 manufacturing firms nationwide, had weakened considerably to 54.1 in December and was expected to continue weakening. The unexpected turnaround is another signal that the economy has strengthened recently, defying predictions that it would slow.