According to the Institute for Supply Management's (ISM) most recent report on business, released Tuesday, February 1, the manufacturing sector grew at the fastest rate since May 2004, with the PMI registering 60.8 percent in January-a 2.3 percent increase over the 58.5 percent reading in December (any reading above 50 signifies growth). Last month's increase also marks the sixth consecutive month of month-over-month growth in the sector.
Of the 18 manufacturing industries, 14 showed growth, including primary metals, transportation equipment, fabricated metal products, and machinery.