The Institute of Supply Management’s January PMI measure of manufacturing activity was up 2.1 points from last month, its highest reading since October 2022. Although it exceeded expectations by 2 points, the reading of 49.1 still marked the 15th consecutive month of contraction in manufacturing activity nationwide. “The U.S. manufacturing sector continued to contract, though at a marginal rate compared to December,” according to the Institute for Supply Management. See the full report here.
