Economy
February 4, 2014
ISM PMI Falls in January But Still in Growth Range
Written by Sandy Williams
The Institute for Supply Management Purchasing Manufacturers Index (PMI) registered 51.3 percent in January. Although the index slid 5.2 percentage points from December, it is still an indicator of growth in the manufacturing sector.
Most of the indices that make up the PMI fell in January. The new orders index took a significant dive of 13.2 percent to register at 51.2 percent, indicating an eighth month of growth but at a much slower rate. Production, that has been in the growth range for 17 months, also slowed, dropping 6.9 percent to a reading of 54.8.
