The U.S. manufacturing downturn deepened in January, fueled by a further pullback in orders and factory production. Of the 15 industries tracked, Wood products contracted the most while furniture was the fourth-ranked industry in terms of contraction. The Institute for Supply Management’s gauge of factory activity fell for a fifth straight month in January to 47.4, the weakest since May 2020. Readings below 50 indicate contraction.

New orders and production contracting; backlogs contracting; supplier deliveries faster; raw materials inventories growing; customers' inventories too low; prices decreasing; exports and imports contracting.

Manufacturing contracted for the first time in nearly 30 months and furniture and wood products were two industries that felt the economic pinch

Economic activity in the manufacturing sector grew in July, with the overall economy achieving a 26th consecutive month of growth, say the nation's supply executives in the latest Manufacturing ISM® Report On Business. Wood products was one of few that fell back,

The April Manufacturing PMI registered 55.4 percent, a decrease of 1.7 percentage points from the March reading of 57.1 percent.

New orders, production and employment growing; supplier deliveries slowing at a slower rate; backlog growing; raw materials inventories growing; customers' inventories too low; prices increasing; exports and imports growing.

TEMPE, Ariz. – Despite continuing issues with labor shortages and supply chain issues, the economy including the furniture and related products market segment continued to grow, according to the Manufacturing ISM Report On Business. According to the report from the Institute for Supply Management, economic activity in the manufacturing sector grew in January, with the overall economy achieving a 20th consecutive month of growth.