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News & Views

Provided by the Investment Professionals of Frost Investment Advisors | January 09 , 2023

Strength in Jobs, Weakness in Manufacturing, Improvement in the Supply Chain

The Slide in Manufacturing

The ISM Manufacturing PMI fell to 48.4, firmly in contractionary territory (the farther below 50 the index falls, the sharper the contraction relative to the previous month). This contraction does not bode well for the broader economic outlook this year. While the manufacturing component of the U.S. economy has shrunk relative to the services sector, manufacturing is a better leading indicator for the overall economy.

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