Keeping you up to date on the latest data releases.
- ISM Manufacturing
The ISM report showed that manufacturing expanded in December, as the Purchasing Managers Index (PMI) ticked up 1.2 percentage points since November to 50.7 percent. A PMI above 42.6 percent, over a period of time, generally indicates expansion; therefore this represents the 43rd consecutive month of overall growth for the economy. New orders were unchanged at 50.3 percent and has seen four consecutive months of growth. Of the five industries which reported expansion of new orders during December, apparel led the increase. Production fell 1.1 percent to 52.6 percent, which was led by a strong decline in non-metallic mineral products. Employment jumped 4.3 percent to 52.7 percent in December, indicating further growth in employment as there has been just one month of contraction within the past 39 months. Prices rose 3.0 percent to 5.5 percent, which was led by spike in prices paid by textile mills.