Posted February 2, 2018

Manufacturing expands for 17th straight month

Manufacturing expanded in January as the Institute for Supply Management's purchasing index registered 59.1 percent.

The January PMI decreased 0.2 percent from the seasonally adjusted December reading of 59.3 percent.

"This indicates growth in manufacturing for the 17th consecutive month at strong levels led by continued expansion in new order and production activity, with employment growing at a slower rate and supplier deliveries continuing to struggle," said Timothy R. Fiore, chair of the ISM Manufacturing Business Survey Committee.

A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.