Jan. U.S. flash manufacturing PMI at 22-month high

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Jan. U.S. flash manufacturing PMI at 22-month high
from MarketWatch.com - MarketPulse
WASHINGTON (MarketWatch) -- 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.