The Big Four Economic Indicators: January Employment
This commentary has been updated to include this morning's release of non-farm employment. January saw a 517K increase in total non-farm payrolls. The unemployment rate ticked down to 3.4%. The Investing.com forecast was for 185K jobs gained.
ISM Services Bounces Back in January
The Institute of Supply Management (ISM) has now released its January services purchasing managers' index (PMI). The headline composite index is at 55.2 percent and is up 5.6 from 49.6 last month. Today's number came in almost 5 percentage points above the Investing.com forecast of 50.4 percent.
ISM Manufacturing Index Continues Contraction in January
This morning the Institute for Supply Management published its monthly Manufacturing Report for January. The latest headline purchasing managers index (PMI) was 47.4, down 1.0 from the previous month and in contraction territory. This marks the third consecutive month in contraction territory after a 29-month period of growth dating back to June 2020. Today's headline number was below the Investing.com forecast of 48.0.
January S&P Global US Manufacturing PMI™: Declining Further
The January S&P Global US Manufacturing PMI™ came in at 46.9, up 0.7 from the final December figure, and marginally better than the Investing.com forecast of 46.8. However, this marks the third consecutive month in contraction territory. S&P Global US Manufacturing PMI™ is a diffusion index: A reading above 50 indicates expansion in the sector; below 50 indicates contraction.