US ISM Manufacturing index dropped -1.2 pts to 57.6 in January, slightly better than expectatio nof 57.5. New orders dropped -3.1 to 57.9. Production dropped -1.6 to 57.8. Employment rose 0.6 to 54.5. Prices rose 7.9 to 76.1.
ISM said: “The past relationship between the Manufacturing PMI and the overall economy indicates that the Manufacturing PMI® for January (57.6 percent) corresponds to a 3.1-percent increase in real gross domestic product (GDP) on an annualized basis.”
