Keeping you up to date on the latest data releases.
- ISM Manufacturing
The ISM’s Manufacturing Purchasing Managers Index (PMI) came in right around consensus expectations, increasing from 53.1 to 54.1 in January. The inventories component grew 4.0 points to an index level of 49.5, which is still slightly below its growth threshold of 50. New orders also added 2.8 points, increasing to 57.6, and the supplier deliveries index rose from 51.5 in December to 53.6 in January. These gains were partially offset by a slight 0.5 point decline in the employment index, which fell from 54.8 to 54.3, and by a larger drop in the production component. Production decreased by 3.2 points to an index level of 55.7. The prices index (which is not seasonally adjusted and does not enter into the overall PMI) surged in January, increasing from 47.5 to 55.5, climbing above 50 for the first time since September. This month’s readings reflect the U.S. Department of Commerce’s recently completed annual adjustment to the seasonal factors used to calculate the indexes.