The preliminary flash
manufacturing purchasing managers index for the U.S. rose to a 56.1 reading in
January from 54.0 in December, according to a Markit report released Thursday.
This is the strongest rate of growth since March 2011. Output, new orders and
employment each accelerated and stayed above the 50 level indicating growth.
The new orders index was at the highest level in 32 months.
"The U.S.
manufacturing sector started 2013 on a strong footing. Prospects also look good
for the upturn to be sustained in coming months, meaning both growth of GDP and
non-farm payroll are likely to accelerate in the first quarter," said
Chris Williamson, chief economist at Markit. Earlier, Markit reported its euro-zone
composite purchasing-managers' index rose to a ten-month high of 48.2 in
January from a December reading of 47.2 and the HSBC Markit flash China
manufacturing PMI climbed to a two-year high of 51.9 from 51.5 in December.
