Final manufacturing data for January
- Prior was 51.7
- Lowest since October
- Employment 51.1 vs 51.4 prior
- New orders fall from previous month
- Full report
The better readings on the latest regional numbers hinted at this beat. The ISM manufacturing report is due at the top of the hour.
Markit Chief Economist Chris Williamson:
"US manufacturing limped into 2020, with falling exports dampening output growth and causing a pull-back in hiring. The survey data are consistent with factory production falling moderately, meaning the manufacturing sector looks set to act as a drag on the overall economy once again in the first quarter. Weakness looks broad-based."
