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UPDATE 1-U.S. upper Midwest factory activity expands in January
January 29, 2016 / 2:27 PM / in 2 years

UPDATE 1-U.S. upper Midwest factory activity expands in January

(Adds details from the latest report)

Jan 29 (Reuters) - A measure of factory activity in the U.S. upper Midwest region rose in January for the first time in 10 months, suggesting some stabilization in the manufacturing sector that has been hurt by a strong dollar and weak global demand, a private survey released on Friday showed.

Marquette University and the Institute for Supply Management-Milwaukee said their index on manufacturing in the Milwaukee region climbed to 50.36 from December’s 48.53.

A reading above 50 indicates regional manufacturing activity is expanding.

The survey’s components were mixed versus December’s levels. Gauges on new orders, employment, exports fell, while measures on production and inventories grew.

The survey’s six-month outlook on business conditions rose to 69.2 from 66.7 in December.

Reporting by Richard Leong in New York; Editing by Jeffrey Benkoe and Chizu Nomiyama

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