The Institute for Supply Management (ISM) Index released this morning shows that U.S. manufacturing fell from 56.5 to 51.3 percent. Despite most reports showing it as a “plunge,” the ISM reports most indicators as “growing.” What does this mean for U.S. growth? It means that it has cooled ever so slightly, but in the grander scheme market scheme of things, the “maker” future is still bright.
The January index registered 51.3 percent, a decrease of 5.2 percentage points from December’s 56.5 percent. Of the 18 manufacturing industries tracked, 11 reported overall growth in January. 10 reported growth in employment. Eight reported growth in new orders. You can read the full release here.