There is no abnormality in the January ISM Manufacturing Index
The January ISM Manufacturing Index fell to 57.6 from 58.8 in the previous month (seasonally adjusted, different from last month's reported figure). Ongoing weakness in intermediate materials, transportation difficulties, and labor shortages at manufacturing sites due to the spread of the Omicron variant of the coronavirus have slightly slowed economic growth.
Employment remains solid.
Price indices are high. Inflation continues.
Overall, there was no anomaly in the January ISM Manufacturing Index.
The relationship between stock prices and the ISM Manufacturing Index is as follows.
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