US manufacturing growth slows in Jan as new orders plunge
Published on Feb 3, 2014 11:40 PM
NEW YORK (Reuters) - United States manufacturing grew less briskly in January after hitting an 11-month high the prior month as output and overseas demand slowed, an industry report showed on Thursday.
Financial data firm Markit said its final US Manufacturing Purchasing Managers Index fell to 53.7 in January, matching an advance reading earlier in the month. The index hit an 11-month high of 55.0 in December. Readings above 50 indicate expansion.
Output fell to 53.5, a four-month low, from 57.5. Some companies attributed the slower pace of growth to the extremely cold weather in large swaths of the country.
New export orders meanwhile declined for the first time since October.
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