Orders of manufactured goods have been picking up in recent months, according to the Institute for Supply Management. That’s a sign that production and hiring could increase in the months ahead.

The measure, which also increased year over year, tracks big, one-off purchases like machinery for manufacturing.

Orders for core capital goods hit a 40-year high in January. That’s because demand for manufactured goods is still high.

Sales of things like drill presses, electrical equipment and metalworking tools were up for the seventh-straight month in September.

Capital goods orders in December dropped the most in eight months.

Capital goods are the things that companies buy to make stuff. Like factories, machinery, tools, equipment, and buildings. Unfortunately, compani…