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:


  • "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)