Both local and national data indicate that manufacturing expanded in January to begin the new year. The Institute of Supply Management (ISM) – Buffalo Index registered 69.9, a jump of 11 points from December’s 58.9. This regional index has climbed sharply since last August’s low, gaining over 30 points and signaling significant growth in area manufacturing. New Orders, Production and Employment were among the constituent series that improved. See the local index here: BuffaloISM_January2017
It’s a similar story, though less dramatic, for manufacturing nationwide. The January ISM index came in at 56.0, its fifth consecutive increase since hitting its 2016 low of 49.4 last August. Of the 18 manufacturing sectors, 12 reported growth including Chemicals, Food, Machinery and Fabricated Metals which are well-represented in WNY. See the national index here.
