The Institute for Supply Management's (ISM) Purchasing Managers' Index (PMI) registered 53.9 percent in December, a 1.2 percent increase from November, and an indication of expansion in the manufacturing sector for the 29th consecutive month. Any reading over 50 indicates the manufacturing industry is generally expanding.
Employment and production each rose 3.3 percent in December, while new orders increased 0.9 percent; prices rose 2.5 percent; imports jumped 5 percent and exports were up 1 percent. Meanwhile, inventories and customers' inventories fell by 1.2 and 7.5 percent, respectively.