TEMPE, AZ – Economic activity in the manufacturing sector expanded in January for the 18th consecutive month, says the Institute for Supply Management. The PMI was 60.8%, up 2.3 percentage points sequentially. A reading above 50% indicates the manufacturing economy is generally expanding.

New orders hit 67.8%, up 5.8 points, while production registered 63.5%, up a slight 0.5 points. Inventories in January were 52.4%, up 0.6 points, and customer inventories grew 5.5 points to 45.5%. Backlogs went up 11 percentage points to reach 58%.

“The manufacturing sector grew at a faster rate in January, as the PMI registered 60.8%, which is its highest level since May 2004 when the index registered 61.4%. The continuing strong performance is highlighted as January is also the sixth consecutive month of month-over-month growth in the sector. New orders and production continue to be strong, and employment rose above 60% for the first time since May 2004. Global demand is driving commodity prices higher, particularly for energy, metals and chemicals,” said ISM spokesperson Norbert J. Ore. 

The overall economy grew for the 20th consecutive month, according to the firm.

OXFORD, CT – Mirtec reported revenue for its North American sales and service division grew more than 62% in fiscal 2010.

The firm attributes the growth to its MV-7 automated optical inspection machines.

CAVE CREEK, AZ -- The High Density Packaging User Group International has launched a project group focusing on printed wiring board environmental life-cycles.

SPOKANE VALLEY, WA -- Key Tronic kept its profitability streak intact, reporting net profits of $1.7 million for its fiscal second quarter ended Jan. 1.