Manufacturing sales rose for the fourth consecutive month, up 0.6% to $64.8 billion in January on higher sales in 14 of 21 industries, led by the petroleum and coal (+6.8%) and wood (+6.5%) product industries. The gain was partially offset by lower sales of motor vehicles (-17.5%). On a year-over-year basis, total manufacturing sales were up 13.4% in January.
Sales in constant dollars decreased 1.8% in January, indicating the modest monthly growth was a result of rising prices as the Industrial Product Price Index increased 3.0% month over month in January.
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