US manufacturing index at lowest level since 2020
The deterioration in the US manufacturing sector continued in the 5th month. The decrease in orders and production was effective in this decrease. Contrary to expectations, the number of vacant jobs in the country increased.
The ISM manufacturing index fell to 47.4 in January, the lowest level since May 2020. The expectation was 48. A value below 50 indicates a contraction in the sector. The index was 48.4 in December. Thus, the decrease continued in the 5th month.
The production index decreased by 0.6 points to 48 and the index for new orders decreased by 2.6 points to 42.5. The employment index also decreased by 0.2 points to 50.6 in the same period.
Manufacturing PMI for January, announced by S&P Global, was revised upwards from 46.8 to 46.9.
The number of job vacancies rose contrary to expectations
Again, according to different data announced today, the number of JOLTS Vacancies increased by 572 thousand in December last year, contrary to the market expectations, and reached 11 million 12 thousand.
Sectors where the number of vacant jobs increased in this period were accommodation and catering services, retail sales and construction. In the information sector, the number of vacancies decreased.
The number of recruits rose to 6 million 165 thousand with an increase of 131 thousand in December last year.
The number of people who were laid off or quit their jobs in the country increased by 59 thousand people in the same period and reached 5 million 831 thousand.
Source of information ; Bloomberg News
1 thought on “US manufacturing index at lowest level since 2020”