ISM Factory Index Shows Expansion in January

The Institute for Supply Management’s manufacturing index moved into positive territory and showed expansion in January, ISM said Friday.

ISM’s factory index rose to 50.7, from a 48.4 reading in December, the group said. Readings above 50 indicate expansion.

The survey’s production index jumped 4.6 points to a 55.2 reading, while the new orders index gained 2.6 points to 46.9.

Economists had forecast the survey would fall to 47.3, Bloomberg reported.

The factory sector is one of trucking’s largest and most important customers.