The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) was 50.7 in January, increasing 2.8 points from December 2023 and marking the most progress in over a year. Manufacturers reported growth in new orders and employment.
The PMI index comprises five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times, and stocks of raw materials. A reading above 50 indicates growth, while below represents a contraction. See S&P Global
