Commentary

The U.S. Purchasing Managers' Index was 51.9 for January, while the ISM Manufacturing Index was 50.9. Both came in above the median forecast. Construction Spending was down 0.2% for December, while Factory Orders were up 1.8%.

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The Services PMI and ISM Non-Manufacturing Index came in at 52.8 and 55.0, respectively, for December. Factory Orders were down 0.7% for November, after having been up 0.2% for October.

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U.S. Industrial Production was up 1.1% for November, after having been down 0.9% in October. Capacity Utilization stood at 77.3%.

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