Manufacturing index for Jan. rises

February 2, 2009 7:45:39 AM PST
A private measure of the manufacturing sector's health for January rose from a record low, but still posted the 12th straight month of contraction amid a global recession. The Institute for Supply Management, a trade group of purchasing executives, says its manufacturing index rose to 35.6 percent in January from 32.4 in December. That was above the reading of 32.6 economists surveyed by Thomson Reuters expected.

Any reading above 50 signals growth, while a reading below 50 indicates contraction. The index has fallen steadily since August as the economy deteriorated, hitting a 28-year low in December.

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