In its original data release on January 2, Halpim said the PMI stood at 52.2 points in December 2016, but it revised this number to a higher value in the Wednesday release.

An index value above 50 shows expansion in the manufacturing sector, while a value under 50 signals contraction.

In January, among the sub-indices that comprise the PMI, the production volume index was up from December and was above the 50 mark for the seventeenth month in a row.

The new orders index increased and was above 50 points, showing an expansion of new orders. 

Delivery times were longer than in December, with the sub-index below 50. 

Purchased stocks increased in January, after falling in December.

The employment sub-index was above 50 and showed expansion. This sub-index was somewhat higher than in December.