January ISM manufacturing index dips 0.2 percent, but price increases widespread

The January PMI® registered 59.1 percent, a decrease of 0.2 percentage point from the seasonally adjusted December reading of 59.3 percent. Comments from the panel reflect expanding business conditions, with new orders and production maintaining high levels of expansion; employment expanding at a slower rate; order backlogs expanding at a faster rate; and export orders and imports continuing to grow faster in January. Price increases occurred across all industry sectors. The Customers’ Inventories Index indicates levels are still too low.

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