ISM mfr’g rebound follows global improvement

February 1, 2010 10:31am by

Jan ISM manufacturing was almost 3 pts above estimates at 58.4 and follows strength today in the manufacturing data in China, India, Australia, Taiwan, the UK and the Euro zone. It’s now at the highest level since Aug ’04 and up from 54.9 in Dec but measures the direction of change, not the degree. New Orders rose 1.1 pts with Backlogs up 6 to 56. Employment rose 3 pts to 53.3 and is now above 50 for the 3rd month in the last 4 at the highest since Apr ’06. Inventories rose 3.5 pts but remain below 50 at 46.5 while Customer Inventories fell 3 pts to 32, the lowest since at least ’97 when this # was included. Export Orders rose 4 pts to the highest since June ’08. Prices Paid rose by 8.5 pts to 70, the most since Aug ’08. The ISM said “13 of 18 industries reported growth, up from 9 last month, and this is a good indication that the impact of the recovery is expanding.” This data confirms the Manufacturing/inventory build thesis in helping GDP.

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment. The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client. References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. The Compound Media, Inc., an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers Please see disclosures here: https://ritholtzwealth.com/blog-disclosures/

twitter

facebook