US manufacturing PMI up 2.3 percentage points in January

Friday, 01 February 2019 01:05:51 (GMT+3)   |   San Diego

Economic activity in the US manufacturing sector expanded in January, and the overall economy grew for the 117th consecutive month, according to the latest Manufacturing ISM Report On Business.

The January PMI registered 56.6 percent, an increase of 2.3 percentage points from the December reading of 54.3 percent.

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.

Of the 18 manufacturing industries, 14 reported growth in January, in the following order: textile mills; computer and electronic products; plastics and rubber products; miscellaneous manufacturing; furniture and related products; printing and related support activities; primary metals; chemical products; transportation equipment; machinery; fabricated metal products; petroleum and coal products; food, beverage and tobacco products; and electrical equipment, appliances and components.

The only industry reporting contraction in January is nonmetallic mineral products.

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