ISM: Manufacturing expanded in January
Manufacturing expanded in January for the second consecutive month, according to the latest report from the Institute for Supply Management.
The PMI registered 53.1 percent, an increase of 2.9 percentage points compared to December's seasonally adjusted reading of 50.2 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.
The New Orders Index registered 53.3 percent, an increase of 3.6 percent over December's seasonally adjusted reading of 49.7 percent, indicating growth in new orders.
"Manufacturing is starting out the year on a positive note, with all five of the PMI's component indexes — new orders, production, employment, supplier deliveries and inventories — registering above 50 percent in January," said Bradley J. Holcomb, chair of the Institute for Supply Management Manufacturing Business Survey Committee.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
