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
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WASHINGTON (MarketWatch) -- The likelihood of faster domestic economic growth is rising, the Conference Board said Thursday as it reported that its leading economic index increased in December. The leading economic index rose 0.5% in December, above analysts' estimates of a 0.4% gain, and the strongest result since September. Among the 10 indicators tracked by the Conference Board's index, the largest positive contribution in December came from fewer claims for unemployment-insurance benefits. The largest negative contribution came from consumers' expectations. November's result was upwardly revised to no change from a prior estimate of a 0.2% drop.
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