ISM PMI slips in January; supply chain disruptions ease

01 February 2022

 

Summary: ISM PMI declines from 58.8% to 58.0% in January, essentially in line with consensus expectation; supply-chain issues continue; key measures of supply chain disruptions ease again; latest reading implies 4.2% 12-month US GDP growth rate in June. The Institute of Supply Management (ISM) manufacturing Purchasing Managers Index (PMI) reached a cyclical peak in September 2017. It then started a downtrend which ended in March 2020 with a contraction in...

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