Expansion of US Manufacturing Activity Eases in January -- ISM

Expansion of US Manufacturing Activity Eases in January -- ISM”

Readings over 50 indicate growth, and scores over 55 percent are considered exceptional.

Both new orders and production deaccelerated last month, contributing to the lower index level for January.

The ISM new orders sub-index fell to 61.1 last month from 67.5 in December. As of writing, the US Dollar Index was up 0.28% on the day at 90.83.

Further details of the publication revealed that the Employment Index improved to 52.6 from 51.7 and the Prices Paid Index jumped to the highest level since April 2011 at 82.1 from 77.6. The imports index rose by 2.2 percentage points to 56.8%.

Separate data showed South Korea's exports jumped 11.4 per cent in January from a year earlier to mark a third straight month of gains due in part to surging sales of memory chips. The two industries reporting contraction in January are printing & related support activities; and petroleum & coal products.

"Demand expanded, with the new orders index growing at a strong level, supported by the new export orders index expanding, customers" inventories index remaining in "too low' territory and at a level considered a positive for future production, and the backlog of orders index remaining at high levels". "The employment index expanded for a second straight month, but panelists continue to note difficulties in attracting and retaining labor at their companies and supplier facilities".

ISM member respondent comments in the report were mixed, highlighting how COVID-19 continues to impact manufacturing operations and output.

More news: Comet streaking past Earth, providing spectacular show

The official manufacturing Purchasing Manager's Index (PMI) fell to 51.3 in January from 51.9 in December, the National Bureau of Statistics said in a statement on Sunday.

But bottlenecks in the supply chain continued driving up costs for manufacturers.

The inventories index came in at 50.8, nearly unchanged from December, and the prices index continued its upward trend and reached 82.1.

In an interview, Tim Fiore, Chair of the ISM's Manufacturing Business Survey Committee, said that even with some sequential declines in some key metrics, from December to January, the overall manufacturing outlook remains on solid footing.

Five of the six biggest manufacturing industries had moderate to strong growth in January, including chemical products; fabricated metal products; transportation equipment; food, beverage and tobacco products; and computer and electronic products.

Factories in Germany, Europe's biggest economy, had been humming along during the pandemic on higher demand from overseas, but also suffered from increasing supply delays and another hard lockdown.

The index is based on a survey of executives in 18 industries. Continued Chinese economic success despite COVID-19 may prompt some countries still struggling to recover economically from the pandemic to view the Chinese state-owned company model as an answer to stimulate their domestic economies.

Like this



02 February 2021
Rochester PD Under Fire for Pepper Spraying 9-Year-Old Girl
Police announced an internal investigation, but haven't said if any of the involved officers have been suspended. Anderson said officers then chose to remove the child from the situation and transport her to an area hospital.

02 February 2021
Photos from Thor and Thor Love and Thunder filming
Thor: Love and Thunder , helmed by writer-director Taika Waititi, looks totally stacked now with a vibe of a mini-Avengers. Pratt wasn't the only Guardian actor spotted on the sets.

02 February 2021
WhatsApp uses Status Updates to ease user worries over privacy
However, upon selecting Telegram , the users would get the option to select the contact that they want to map the chat with. Facebook-owned messaging app WhatsApp has started posting Status messages to users about its "commitment to your privacy ".

02 February 2021
Ellume Home Covid Test Kit to Get $230M in Federal Funding
The Ellume antigen test is one of three COVID-19 tests people can use themselves, and is the only one available without a doctor's prescription.

01 February 2021
Tony Bennett reveals he has Alzheimer's
In a social media post directing fans to the article, Bennett said: "Life is a gift - even with Alzheimer's". Tony Bennett has been diagnosed with Alzheimer's disease but it hasn't quieted his legendary voice.

01 February 2021
Carlito Discusses WWE Royal Rumble Return & Working With No Fans
McIntyre headbutted Goldberg before the bell rang, which lead to an intense brawl that spilled over to the outside ring area. Lynch had to relinquish the RAW Women's Championship previous year as she was going to be a mother.

01 February 2021
NVIDIA's GeForce Now Is Now Playable Through Chrome
You can play with a mouse and keyboard, a gamepad, even a wireless headset - all of them worked for us seamlessly in Chrome. It's also neat if you're just interested in giving the service a try without downloading additional software.

01 February 2021
Asus ROG Phone 5 Reportedly Spotted on Multiple Certification Platforms
Interestingly, the rear panel seems to feature a small secondary display with a "05" and "REPUBLIC Of GAMERS" naming. As per the TENAA listing , Asus ROG Phone 5 will come with an AMOLED display with in-screen fingerprint scanner.

01 February 2021
Hyundai Motor : Flying cars airport of the future to land in England
Over a hundred years ago, the world's first commercial flight took off, creating the modern connected world. The £1.2m of government funding came from Innovate UK's "Future of Flight Challenge".

01 February 2021
England`s Foakes at peace being Jos Buttler`s understudy
I am really looking forward to it. "I think it will very much be a case of Jos is number one", he said. The shirt, as far as Foakes can tell, is simply not up for grabs.