The Institute for Supply Management’s Manufacturing and Non Manufacturing releases for January contained predominantly good news, as did the January sales reports from the car companies.
Manufacturing moved from bare expansion in December (50.3%) to brisker expansion (53.2%) in January. The New Orders and Employment elements were strong, while the backlog component declined.
The Non Manufacturing index dipped a bit from 55.7% in December to 55.2% in January — still a very decent number. New Orders sentiment dropped, but it was still well above 50%, while Backlog dropped just a bit to below 50%.
In vehicle sales, virtually everyone had a good January, but the champ was Toyota (up 26%). Detroit’s Big Three all had double-digit gains, with Ford leading the way at +22%. The only weak performance in the Japanese Big Three was Nissan’s +2%. Overall sales were up 14% from January 2012.