US industrial activity rises in January

Industrial activity in the United States rose unexpectedly during January, after shrinking for five consecutive months amid an increase in new orders, which gives more hope that the long recession in commercial investment has ended.

The American Supply Institute said today that the manufacturing purchasing managers' index in the United States rose to 50.9 points in January, the highest level since last July, compared to the rate of 47.8 points recorded in December.

Analysts had expected the manufacturing purchasing managers' index to rise to 48.5 points in January, and the new forward-looking orders index rose to 52.0 points in January, the highest level since May compared to 47.6 points recorded in December.