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    February 6, 2024

    January manufacturing still contracting, shows some improvement: ISM

    Written by David Schollaert

    Domestic manufacturing activity continued to draw back in January, receding for the 15th straight month, according to the latest Institute for Supply Management (ISM) Manufacturing PMI report.

    The ISM Manufacturing PMI registered 49.1% in January, up two percentage points from 47.1% reported in December. A reading above 50 indicates the manufacturing economy is growing, while a reading below 50 indicates contraction. The last time it was above 50 was in October 2022 when the reading was 50.2, the report said.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

    Read more from David Schollaert

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