The Manufacturing PMI® for January was reported at 49.1 percent in the latest Manufacturing ISM® Report On Business® released by the nation’s supply executives. The figure represented a two-percentage-point increase from December’s figure of 47.1 percent but remained in contraction territory.
After almost four tumultuous years that included a pandemic, supply chain chaos, dramatic lifestyle shifts and strains on consumer spending, the home and housewares industry finds itself forever changed but ready to drive growth in 2024 and beyond. Amid continued pressures on consumer spending, many housewares executives have been investing heavily in ways to meet changing customer needs, collaborate with retail partners and make their operations even more flexible and efficient.
“2024 will be incredibly important to our industry as many brands focus on getting their inventory levels, supply chain and resources in the right place,” says Steve Greenspon, CEO of Honey-Can-Do International LLC.
