ISM Factory Index drop in January

Although the Institute for Supply Management's factory index took a bit of a dive in January, the manufacturing industry still posted gains during the month.

The January index reading of 51.3 is a decrease form December's reading of 56.5. Even though this is a drop, a reading of more than 50 signals growth within the industry. Russell Price, a senior economist at Ameriprise Financial Inc., said in an interview with Bloomberg the weather played a factor in January's decline.

"The exceptionally cold weather and the harsh snow storms – we all move a little bit slower in those periods and the economy is no different," Price said. "It should be some testament to the economy's fundamental underpinnings that it was able to expand during such conditions."

Among the 18 industries that were profiled by ISM, 11 posted gains in January. Plastics and rubber products, primary metals, wood products, textile mills, printing & related support activities are just a few areas that recorded positive numbers in January.

Employers in these manufacturing industries can enlist the services of manufacturing recruiters to help them find experienced workers.