ISM Factory Index Shows Slight Increase

U.S. manufacturing activity showed a slight increase in January but still showed contraction, the Institute for Supply Management said Monday.

ISM’s monthly factory services index rose to a reading of 35.8, from 35.6 in December. Figures of more than 50 indicate expansion, while below that shows contraction.

The survey’s new orders index dipped to 33.1, from 33.2, while export orders held at 37.5.

The factory index measures manufacturing components of the economy. The trucking industry relies on factory orders and shipments for much of its business.