The ISM Manufacturing Index registered 56.0 points in January, up 1.5 points from the previous month, according to the Institute for Supply Management. January’s reading indicates a fifth consecutive month of expansion in manufacturing, as readings over 50 points denote expansion. Of the eighteen manufacturing industries, twelve reported growth while five reported contraction.
The New Orders Index ticked up 0.1 points to 60.4 in January, indicating growth for the fifth consecutive month. Twelve industries reported increases in new orders while five reported decreases.
Export orders decreased 1.5 points to 54.5, still indicating growth in exports, but at a slower pace. Eight industries reported growth while four of the eighteen reported a decrease in new export orders.
The inventories index registered 48.5 points, indicating that raw materials inventories contracted for the 19th consecutive month.
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