Last updateFri, 03 Apr 2020 8pm

Solis Confirmation Still Unresolved

Health, Education, Labor & Pensions Committee Chairman Edward Kennedy (D-MA) and Ranking Member Mike Enzi (R-WY) issued a joint statement yesterday on the postponement of Hilda Solis’ confirmation as Secretary of Labor. They did this to dispel the rumor that a single Senator was placing an anonymous “hold” on her nomination.

Source: Health, Education, Labor & Pensions Committee

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Institute for Supply Management Reports Modest Gains in January

January marked 12 months of contraction in the manufacturing sector. However, the rate of decline as measured by the PMI was slower than experienced in December. The January New Orders Index is at 33.2%, up from the seasonally adjusted 23.1% recorded in December. While this is a significant month-over-month improvement, it is still a sign of continuing weakness in the sector.

Source: ISM

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Manufacturing in U.S. Probably Slumped Into 2009 as Sales Slid

Manufacturing in the U.S. probably shrank in January at the fastest pace in 28 years following a collapse in sales that caused inventories to swell at the end of 2008, economists said before reports today.

The Institute for Supply Management’s factory index fell to 32.5 last month, the lowest level since June 1980, from 32.9 the prior month, according to the median estimate of economists surveyed by Bloomberg News.

Source: Bloomberg

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