Midwest Manufacturing Sector Sees Slower Growth in January

The Institute for Supply Management-Chicago’s PMI index shows manufacturing in the region slowed to 59.6 in January, slightly higher than Wall Street’s estimate of 59, but down slightly from December’s 60.8. The new orders sub-component surged to 64.6 from 43.9 the month prior. Readings above 50 point to expansion, while those below indicate contraction.