January Purchasing Managers Index Slid to 58.7%
Tempe, AZ, February 1, 2021-The January Manufacturing Purchasing Managers Index (PMI) registered 58.7%, down 1.8 percentage points from the seasonally adjusted December reading of 60.5%, say the nation's supply executives in the latest Manufacturing ISM Report On Business. This figure indicates expansion in the overall economy for the eighth month in a row after contraction in March, April, and May.
The New Orders Index registered 61.1%, down 6.4 percentage points from the seasonally adjusted December reading of 67.5%.
The Production Index registered 60.7%, a decrease of 4 percentage points compared to the seasonally adjusted December reading of 64.7%.
The Backlog of Orders Index registered 59.7%, 0.6 percentage point above the December reading of 59.1%.
The Employment Index registered 52.6%, 0.9 percentage point higher from the seasonally adjusted December reading of 51.7%.
The Supplier Deliveries Index registered 68.2%, up 0.5 percentage point from the December figure of 67.7%.
The Inventories Index registered 50.8%, 0.2 percentage point lower than the seasonally adjusted December reading of 51%.
The Prices Index registered 82.1%, up 4.5 percentage points compared to the December reading of 77.6%.
The New Export Orders Index registered 54.9%, a decrease of 2.6 percentage points compared to the December reading of 57.5%.
The Imports Index registered 56.8%, a 2.2-percentage point increase from the December reading of 54.6%.
Of the 18 manufacturing industries, 16 reported growth in January, in the following order: electrical equipment, appliances & components; machinery; primary metals; chemical products; fabricated metal products; plastics & rubber products; transportation equipment; apparel, leather & allied products; paper products; wood products; food, beverage & tobacco products; nonmetallic mineral products; furniture & related products; miscellaneous manufacturing; textile mills; and computer & electronic products. The two industries reporting contraction in January are printing & related support activities; and petroleum & coal products.