The Institute for Supply Management’s (ISM’s) PMI, a key measure of American manufacturing activity, indicated growth in January to start the year. The PMI was 58.7, down 1.8 points from a multi-year high of 60.5 in December (a level above 50.0 indicates expansion). According to ISM, “Manufacturing performed well for the eighth straight month, with demand, consumption and inputs registering strong growth compared to December. Labor market difficulties at panelists’ companies and their suppliers will continue to restrict the manufacturing economy expansion until the coronavirus (COVID-19) crisis abates.” You can see the full report here.
