U.S. Manufacturing Shows Signs of Stabilization But Remains in Contraction
• ISM manufacturing index rose to 49.1% in January from 47.1% in December, showing contraction for 15th straight month • New orders index jumped into expansion territory, rising 5.5 points to 52.5% • Production rose slightly to 50.4% in January after 10 of last 14 months in contraction • New export orders fell 4.7 points to 45.2%, weak for 18 straight months due to bearishness on China and Europe • Prices paid rose 7.7 points to 52.9% in January, with increase in raw materials prices after 8 months of declines