US ISM manufacturing dropped to 47.4, corresponds to -0.5% annualized GDP contraction

US ISM Manufacturing PMI dropped further from 48.4 to 47.4 in January, below expectation of 48.7. Looking at some details, new orders dropped from 45.1 to 42.5. Production dropped from 48.6 to 48.0. Employment dropped from 50.8 to 50.6. Prices rose from 5.1 to 39.4. ISM said: “The U.S. manufacturing sector again contracted, with the […]

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