The U.S. manufacturing sector contracted in January, Manufacturing PMI® registered 49.1%, up 2 percentage points (pp) from the seasonally adjusted 47.1% recorded in December. Regarding the overall economy, this figure indicates that the economy continued in expansion for the 45th month after one month of contraction in April 2020 (a manufacturing PMI® above 42.5%, over a period of time, generally indicates an expansion of the overall economy).
The Employment Index registered 47.1%, down 0.4 pp from December’s reading of 47.5%.
The Prices Index registered 52.9%, 7.7 pp higher compared to the December reading of 45.2%.
The New Orders Index moved into expansion territory at 52.5%, 5.5 pp higher than the seasonally adjusted figure of 47% recorded in December.
The New Export Orders Index reading of 45.2% is 4.7 pp lower than December’s figure of 49.9%.
The Inventories Index increased 2.3 pp to 46.2%; the December reading was 43.9%.
Read the ISM release.
