ISM Manufacturing Report Shows Expansion Ongoing
February 1, 2012
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Economic Update: ISM Manufacturing Index
The ISM (Institute of Supply Management) Manufacturing index for January shows that the manufacturing sector continued to expand for the 30th straight month.
The index was reported at 54.1, which was below the consensus estimate for a reading of 54.7 but above December’s revised 53.1 (November: 52.7, October: 50.8, September: 51.6, August: 50.3, July: 50.9).
The index is designed to indicate the state of the manufacturing sector in the U.S. Readings above 50 are indicative of expansion while below 50 suggests contraction in the sector.
The Prices Paid component, which is a measure of inflation, came in at 55.5. This was above the consensus for 49.5 and up from last month’s reading of 47.5 (November: 45.0, October: 41.0).
The Employment Index was reported at 54.3, which was down from last month’s 54.8.
The New Orders Component came in at 57.6 vs. last month’s 54.8.
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