ISM Report Signals Soft Manufacturing Growth to Continue

Despite seeing declines in its core metrics, manufacturing activity in January continued to show growth for the eighth straight month, according to the Institute for Supply Management’s (ISM) Report on Business.

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Despite seeing declines in its core metrics, manufacturing activity in January continued to show growth for the eighth straight month, according to the Institute for Supply Management’s (ISM) Report on Business.

The PMI, the index used by the ISM to measure manufacturing activity, fell 5.2 percent to 51.3 in January, which is 2.5 percent below the 12-month average of 53.8 and its lowest reading since last May’s 50.0. The PMI is still over the 50 mark—which is the benchmark of strong economic activity—in 13 of the last 14 months, coupled with the overall economy growing now for 56 straight months, according to the ISM.

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