January manufacturing data from ISM
- Highest since Nov 2014
- Prior was 54.5
- Employment 56.1
- Prior employment 53.1 (revised to 52.8)
- Prices paid 69.0
- Prior prices paid 65.5
- New orders 60.4
- Prior new orders 60.2 (revised to 60.3)
- Full release
Since November, prices paid have jumped from 55.5 to 65.5 to 69.0.
That's largely a reflection of higher commodity prices but it's still going to get the Fed's attention.
From the survey:
WHAT RESPONDENTS ARE SAYING ...
- "Demand very steady to start the year." (Chemical Products)
- "January revenue target slightly lower following a big December shipment month." (Computer & Electronic Products)
- "Strong start to the new year. Production is increasing and we are adding capacity." (Plastics & Rubber Products)
- "Business looks stronger moving into the first quarter of 2017." (Primary Metals)
- "Economic outlook remains stable and no current effects of geopolitical changes appear to be penetrating market conditions." (Food, Beverage & Tobacco Products)
- "Sales bookings are exceeding expectations. We are starting to see supply shortages in hot rolled steel due to the curtailment of imports." (Machinery)
- "Year starting on pace with Q4 2016." (Transportation Equipment)
- "Business conditions are good, demand is generally increasing." (Miscellaneous Manufacturing)
- "Conditions and outlook remain positive. Raw material prices are stable resulting in stable margins. Asset utilization remains high." (Petroleum & Coal Products)
- "Steady demand from automotive." (Fabricated Metal Products)