US DATA: Jan ISM Mfg text: “The PMI registered 54.1 percent, an
increase of 1 percentage point from December’s seasonally adjusted
reading of 53.1 percent, indicating expansion in the manufacturing
sector for the 30th consecutive month. The New Orders Index increased
2.8 percentage points from December’s seasonally adjusted reading to
57.6 percent, reflecting the 33rd consecutive month of growth in new
orders. Prices of raw materials increased for the first time in the last
four months. Manufacturing is starting out the year on a positive note,
with new orders, production and employment all growing in January.” 9 of
18 industries grew. WHAT RESPONDENTS ARE SAYING: “Still seeing raw
materials pricing moving down in general, but expect inflation later in
the quarter.” (Chemical Products) “Year starting a little slow, but
customers are positive about increased business in 2012.” (Machinery)
“Once again, business continues to be strong.” (Paper Products)
“Pricing remains in check with the demand we are seeing. Supplier
deliveries are on time or early.” (Food, Beverage & Tobacco Products)