Manufacturing Index Up Slightly For January

The Institute for Supply Management’s (ISM) manufacturing index rose to 35.8 from 35.6 in January. Economists predicted a decline to 33.8, according to a
Briefing.com survey. Index readings above 50 are considered to indicate growth, while levels below 50 signal contraction. Readings below 41 are associated with a recession in the broader economy. The index hit a 28-year low of 32.9 in December.

The report is a national monthly survey of purchasing managers in the manufacturing sector. The survey of members of the Tempe, AZ-based ISM tracks new orders, production, employment, supplier deliveries, inventories, customers’ inventories, backlog of orders, prices, new export orders, imports and buying policy.