U.S. Business Investment Fuels Factory-Sector Momentum


U.S. factories maintained momentum in January, buoyed by rising demand for equipment, in the latest sign companies are stepping up investment spending.

The Institute for Supply Management on Thursday said its index of factory activity settled at 59.1, down slightly from 59.3 in December but still ranking as the third-highest since 2011. Any mark above 50 indicates expanding activity, as measured by factors like product sales, raw-materials prices and industry employment.

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