US Factory Growth Beats Forecasts in January: ISM

The Institute for Supply Management’s Manufacturing PMI in the US edged down to 59.1 in January of 2018 from a downwardly revised 59.3 in December, beating market expectations of 58.8. New orders and production maintained high levels of expansion; employment expanded at a slower rate; order backlogs, export orders and imports continued do grow faster. Price increases occurred across all industry sectors.
ISM | Joana Taborda | joana.taborda@tradingeconomics.com 2/1/2018 6:12:41 PM
The pace of growth eased for new orders (65.4 from 67.4), production (64.5 from 65.2) and employment (54.2 from 58.1) and price pressures intensified (72.7 from 68.3). On the other hand, rises were seen in the gauges for supplier deliveries (59.1 from 57.2); inventories (52.3 from 48.5); backlogs of orders (56.2 from 54.9) and new export orders (59.8 from 57.6).

Of the 18 manufacturing industries, 14 reported growth in January in the following order: Textile Mills; Fabricated Metal Products; Plastics & Rubber Products; Primary Metals; Machinery; Transportation Equipment; Apparel, Leather & Allied Products; Chemical Products; Computer & Electronic Products; Paper Products; Petroleum & Coal Products; Electrical Equipment, Appliances & Components; Miscellaneous Manufacturing; and Food, Beverage & Tobacco Products. Four industries reported contraction during the period: Printing & Related Support Activities; Wood Products; Furniture & Related Products; and Nonmetallic Mineral Products.

US Factory Growth Beats Forecasts in January: ISM