Notable pick-up in factory hiring during January, ISM says

Manufacturing activity accelerated Stateside in January, amid stronger hiring and heightened pressures on costs, the most widely-tracked monthly gauge for the sector revealed.

The Institute for Supply Management's purchasing managers' index picked up from a downwardly revised reading of 54.5 for December to 56.0 for January, ISM said.

Economists' had penciled in a January reading of 55.0.

Key gauges for new orders and production ticked higher, with the former rising from a reading of 60.3 to 60.4, while that linked to firms' levels of output climbed from 59.4 to 61.4.

Two other key subindices, those for employment and companies' 'prices paid' also rose.

The former strengthened form 52.8 to 56.1, while the latter was up from 65.5 to 69.0.

Among survey respondents' comments, the ISM highlighted those from purchasing managers in the Machinery and Transportation equipment sectors, among others.

In Machinery, one purchasing manager said: "Sales bookings are exceeding expectations. We are starting to see supply shortages in hot rolled steel due to the curtailment of imports."

Meanwhile, another from the Transportation Equipment sector chipped in, saying: "Year starting on pace with Q4 2016".