Economy
February 2, 2019
ISM PMI Expands on New Orders
Written by Sandy Williams
The manufacturing sector expanded in January following a weak December, according to the latest survey of purchasing managers by the Institute for Supply Management. ISM’s January PMI rose 2.3 points to 56.6 with new orders, production and inventories growing at a faster rate last month. A reading above 50 indicates growth.
New Orders led the PMI sub-indexes, growing 6.9 points to 58.2. The production index jumped 6.4 points for the strongest growth since September 2018. Backlogs grew slightly from December.
