New orders need to keep growing – ISM’s Holocomb

FXStreet (Mumbai) - The Institute of Supply Management’s (ISM) manufacturing chairman Holocomb was on the wires stating the worst is not over yet and that new orders need to keep growing.

He added, “Slump in inventories having the most impact”. The headline ISM number bettered estimates, but stayed below 50.00, which indicates contraction of the activity in January.

Key points of the ISM report were

Purchasing managers index 48.2 Jan vs 48.0 Dec

Prices paid index 33.5 Jan vs 33.5 Dec (nsa)

New orders index 51.5 Jan vs 48.8 Dec

Employment index 45.9 Jan vs 48.0 Dec

Production index 50.2 Jan vs 49.9 Dec

Supplier delivery index 50.0 Jan vs 49.8 Dec

Order Backlog Index 43.0 Jan Vs 41.0 Dec (Nsa)