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ISM Manufacturing Index Falls Below Expectations

The latest ISM report shows that US manufacturing activity contracted more than expected in January due to a drop in new orders. Companies have commented on their own experiences but there may be a slight delay due to today's FOMC meeting.

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Feb. 01, 2023 3:10PM

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A graph showing the decline of the ISM Manufacturing Index from December to January

A graph showing the decline of the ISM Manufacturing Index from December to January

The Institute for Supply Management (ISM) released its monthly report on the US manufacturing sector, and the results were below market expectations. The index fell from December to January, dropping below the 50 mark that indicates a contraction in activity. The most significant decline was seen in new orders, with many companies commenting on their own experiences in the sector. However, with today's focus being on the Federal Open Market Committee (FOMC) meeting at 4 pm ET, there may be a slight delay in delivery of these comments.