ISM Jan Manufacturing PMI Eases To 58.7 vs Dec 60.5

US ISM NEW ORDERS INDEX 61.1 JAN VS 67.5 DEC

US ISM EMPLOYMENT INDEX 52.6 JAN VS 51.7 DEC

US ISM PRODUCTION INDEX 60.7 JAN VS 64.7 DEC

US ISM SUPPLIER DELIVERY INDEX 68.2 JAN VS 67.7 DEC

US ISM INVENTORIES INDEX 50.8 JAN VS 51.0 DEC

The ISM Mfg PMI eased 1.8pt to 58.7 in Jan, following an upward revised Dec 60.5. Among the main five categories, New Orders showed the largest downtick, falling 6.4pt to the lowest level since Sep, while Production declined by 4.0pt to a six-month low. Inventories edged lower by 0.2pt, but remained above the 50-mark for four consecutive months. Supplier Deliveries rose 0.5pt to the highest level since Apr and Employment ticked up 0.9pt to a 19-month high. Among the other categories, Customer's Inventory saw the largest decline, down 4.8pt to 33.1, followed by Exports which fell 2.6pt to 54.9. Prices recorded the biggest increase in Jan, up 4.5pt to 82.1, its highest level since Apr 2011. Meanwhile, imports gained 2.2pt to 56.8 and Order Backlogs rose 0.6pt to 59.7 which is the highest level since Jun 2018.