Economic activity in the US manufacturing sector grew in January, and the overall economy grew for the 129th consecutive month, according to latest Manufacturing ISM Report On Business.
The January PMI registered 50.9 percent, an increase of 3.1 percentage points from the seasonally adjusted December reading of 47.8 percent.
The New Orders Index registered 52 percent, an increase of 4.4 percentage points from the seasonally adjusted December reading of 47.6 percent.
The Production Index registered 54.3 percent, up 9.5 percentage points compared to the seasonally adjusted December reading of 44.8 percent.
The Backlog of Orders Index registered 45.7 percent, up 2.4 percentage points compared to the December reading of 43.3 percent.
The Employment Index registered 46.6 percent, a 1.4-percentage point increase from the seasonally adjusted December reading of 45.2 percent.
The Supplier Deliveries Index registered 52.9 percent, a 1.7-percentage point decrease from the December reading of 54.6 percent.
The Inventories Index registered 48.8 percent, a decrease of 0.4 percentage point from the seasonally adjusted December reading of 49.2 percent.
The Prices Index registered 53.3 percent, a 1.6-percentage point increase from the December reading of 51.7 percent.
The New Export Orders Index registered 53.3 percent, a 6-percentage point increase from the December reading of 47.3 percent.
The Imports Index registered 51.3 percent, a 2.5-percentage point increase from the December reading of 48.8 percent.
Of the 18 manufacturing industries, eight reported growth in January — listed in order — are: furniture and related products; wood products; food, beverage and tobacco products; computer and electronic products; miscellaneous manufacturing; nonmetallic mineral products; chemical products; and fabricated metal products.
The eight industries reporting contraction in January — listed in order — are: printing and related support activities; apparel, leather and allied products; electrical equipment, appliances and components; petroleum and coal products; textile mills; transportation equipment; primary metals; and machinery.