Wall Street Journal (02/03/14) Cynthia Lin
The Institute for Supply Management’s manufacturing purchasing managers index declined to 51.3 in January from 56.5 in December, which is the lowest reading since May 2013. Readings above 50 indicate expansion. Economists surveyed by Dow Jones Newswires had forecast a reading of 56.
The ISM new orders index fell to 51.2 in January from 64.4 in December; the January employment index declined to 52.3 from 55.8; and inventories fell to 44 from 47. However, the prices paid index rose to 60.5 in January from 53.5 in December.