Manufacturing Pace Edged Up Last Month

U.S. manufacturing activity expanded only slightly in January, but the overall economy is still robust and signs of rising inflation continue, according to a widelyfollowed survey released Wednesday.

The National Association of Purchasing Managers said its index of manufacturing activity rose to 57.9 percent in January from 57.5 percent in December. The index has been advancing for the last year and a half.

Although the increase was slight, the index remains at a high level and suggests the overall economy is still expanding at a healthy pace.

An index reading above 50 percent indicates an expansion of activity at the nation’s factories, while a reading below 50 percent indicates a decline.