Manufacturing Sector Continues Expansion

Washington, DC, Feb. 1, 2011 -- Manufacturing expanded in January at the fastest pace in seven years, according to the Institute for Supply Management.

ISM, a private trade group, says its index of manufacturing activity rose last month to 60.8, the 18th consecutive month of expansion.

January's reading was the highest since May 2004. Any reading above 50 indicates expansion.

The manufacturing sector bottomed out at 33.3 in December 2008, the lowest point since June 1980. It has helped drive growth since the recession ended in June 2009.

The employment index also rose, a sign that manufacturing companies are hiring more workers.