Key manufacturing index tops 60 in January
Posted By:
Tom Sanderson
Date Posted:
Wednesday, February 09, 2011
8:00 AM
The Institute of Supply Management reported that the Purchasing Managers' Index (PMI) increased from 58.5 in December to 60.8 in January. This represents 18 consecutive months of growth and the highest index since May 2004. A PMI over 50 indicates growth while a PMI under 50 indicates contraction in the manufacturing sector of the economy. The index reached a low of 32.5 in December 2008 but then recovered more quickly than other areas of the economy and remains one of the brighter spots in the economy today. The vertical bars in the graph represent recessions.
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ISM manufacturing index