Economic activity in the US manufacturing sector contracted in January for the 15th consecutive month following one month of "unchanged" status (a PMI reading of 50 percent) and 28 months of growth prior to that, according to the latest Manufacturing ISM Report On Business.
The Manufacturing PMI registered 49.1 percent in January, up 2 percentage points from the seasonally adjusted 47.1 percent recorded in December. The overall economy continued in expansion for the 45th month after one month of contraction in April 2020. Index breakdown:
| Index | January level | December level |
| New Orders | 52.5 | 47.1 |
| Production | 50.4 | 50.3 |
| Prices | 52.9 | 45.2 |
| Backlog of Orders | 44.7 | 45.3 |
| Employment | 47.1 | 48.1 |
| Supplier Deliveries | 49.1 | 47 |
| Inventories | 46.2 | 44.3 |
| New Export Orders | 45.2 | 49.9 |
| Imports | 50.1 | 46.4 |
The four manufacturing industries reporting growth in January are: apparel, leather and allied products; textile mills; transportation equipment; and chemical products.
The 13 industries reporting contraction in January — in the following order — are: wood products; machinery; plastics and rubber products; nonmetallic mineral products; furniture and related products; computer and electronic products; fabricated metal products; petroleum and coal products; food, beverage and tobacco products; electrical equipment, appliances and components; paper products; miscellaneous manufacturing; and primary metals.