U.S. Jan. ISM factory index jumps to 58.4% (by Greg Robb)

WASHINGTON (MarketWatch) - Conditions for the nation's manufacturers in January improved markedly, the Institute for Supply Management reported Monday. The ISM factory index jumped to 58.4% in January from 54.9% in December. This is well above expectations. The consensus forecast of estimates collected by MarketWatch was for the index to rise to 56.0%. Readings above 50 indicate expansion.