The ISM Manufacturing Index registered 58.7 points in January, 1.8 percentage points lower than the December reading of 60.5%. This indicates expansion in the overall economy for the eighth month in a row. Sixteen of the 18 manufacturing industries reported growth in January.
The Employment Index registered 52.6% in January; 0.9 percentage points higher than the December reading of 51.7%. This was the second month in a row of growth for the index with only one (Chemical Products) of the six big industry sectors expanding.
The New Orders Index registered 61.1% in January; a decrease of 6.4 percentage points compared to the seasonally adjusted 67.5% reported in December. This indicates that new orders grew for the eighth consecutive month.
The New Export Orders Index was 54.9% in January, a decrease of 2.6 percentage points compared to the December reading of 57.5%.
The Inventories Index registered 50.8%, 0.2 percentage point lower than the December reading of 51%. Inventories grew for a fourth consecutive month after three months of contraction.
Read the ISM release.