"The January PMI registered 56.6 percent, an increase of 2.3 percentage points from the December reading of 54.3 percent," the ISM said in its latest Manufacturing Report on Business.
Key takeaways from the press release
- The New Orders Index registered 58.2 percent, an increase of 6.9 percentage points from the December reading of 51.3 percent.
- The Production Index registered 60.5 percent, 6.4-percentage point increase compared to the December reading of 54.1 percent.
- The Employment Index registered 55.5 percent, a decrease of 0.5 percentage point from the December reading of 56 percent.
- The Supplier Deliveries Index registered 56.2 percent, a 2.8 percentage point decrease from the December reading of 59 percent.
- The Inventories Index registered 52.8 percent, an increase of 1.6 percentage points from the December reading of 51.2 percent.
- The Prices Index registered 49.6 percent, a 5.3-percentage point decrease from the December reading of 54.9 percent, indicating lower raw materials prices for the first time in nearly three years.
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