U.S. Manufacturing Growth Softens in January ISM Index

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ISM’s Purchasing Manager Index (PMI) came in at 53.5 for January 2015, down 1.6 points from December.  The Index still indicates growth, albeit at the slowest pace in the last two years.  Exports, Customer Inventories, Prices and Backlog of Orders all contracted in January.  Of the 18 manufacturing sectors that comprise the Index, 14 reported growth and only 2 reported contraction:  Textile Mills and Nonmetallic Mineral Products.  Multiple respondents said the slowdown at West Coast Ports was affecting both import and export activity.  See the whole report here.

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