US January S&P Global final manfacturing PMI 50.7 vs 50.3 prelim

<ul><li>Prelim was 50.3 </li><li>Prior was 47.9</li><li>Greater new orders and stronger output expectations for the
year ahead spurred firms to hire workers</li><li>Employment
rose for the first time since last September</li><li>Business confidence at goods producers jumped
to a 21-month high in January</li></ul><p>This ISM manufacturing index is due at the top of the hour.</p><p>Chris Williamson, Chief Business Economist at S&amp;P
Global Market Intelligence, said:
</p><blockquote>“Manufacturers have started the year with a spring in
their step. Business optimism about the year ahead has
surged to its highest since early 2022 thanks to a jump
in demand. New orders are rising at a pace not seen for
over a year and a half, improving especially sharply for
consumer goods as households benefit from signs of an
easing in inflation and looser financial conditions.
</blockquote><blockquote>“Factories are also showing signs of restocking, with
some firms buying more inputs to support higher
production in the coming months. Payroll numbers are
also rising again as firms seek to build extra operating
capacity, boding well for the upturn to gain further
strength as we head through the first quarter.
</blockquote><blockquote>“The brighter news is tempered by signs of factory
costs rising on the back of supply delays, with costlier
deliveries often linked to adverse weather and recent
disruptions to global shipping. These higher costs are
feeding through to increased prices charged for goods
by factories, which rose in January at the fastest pace
since last April. Some renewed upward pressure on
consumer prices could therefore appear in the months
ahead if these supply-linked inflationary trends persist.”</blockquote>

This article was written by Adam Button at www.forexlive.com.