The overall economy and the manufacturing sector grew again in January, according to the latest ISM report. The PMI was 59.1% in January, which is slightly lower than it was in December, but still high compared to the 12-month average. Food, beverage, and tobacco was one of the 14 industries reporting growth; however, respondents noted that “employment is tight.”

Here’s the high-level view for food, beverage, and tobacco:

  • Growth in new orders
  • No change in production
  • Decrease in employment
  • Slower supplier deliveries
  • Lower inventories
  • Customer inventories too low
  • Increased prices for raw materials
  • Decrease in order backlogs
  • Growth in new export orders
  • Growth in imports

Overall, the results support a continued positive trend in the manufacturing sector, which expanded for the 17th straight month, and the overall economy, which grew for the 105th month in a row.