Economic activity in the US manufacturing sector expanded in December, and the overall economy grew for the 116th consecutive month, said the nation's supply executives in the latest Manufacturing ISM Report On Business.
The December PMI registered 54.1 percent, a decrease of 5.2 percentage points from the November reading of 59.3 percent.
The New Orders Index registered 51.1 percent, a decrease of 11 percentage points from the November reading of 62.1 percent.
The Production Index registered 54.3 percent, 6.3-percentage point decrease compared to the November reading of 60.6 percent.
The Employment Index registered 56.2 percent, a decrease of 2.2 percentage points from the November reading of 58.4 percent.
The Supplier Deliveries Index registered 57.5 percent, a 5-percentage point decrease from the November reading of 62.5 percent.
The Inventories Index registered 51.2 percent, a decrease of 1.7 percentage points from the November reading of 52.9 percent.
The Prices Index registered 54.9 percent, a 5.8-percentage point decrease from the November reading of 60.7 percent, indicating higher raw materials prices for the 34th consecutive month.
Of the 18 manufacturing industries, 11 reported growth in December, in the following order: textile mills; apparel, leather and allied products; machinery; transportation equipment; computer and electronic products; wood products; chemical products; food, beverage and tobacco products; miscellaneous manufacturing; electrical equipment, appliances and components; and primary metals.
The six industries reporting contraction in December — in the following order — are: printing and related support activities; fabricated metal products; nonmetallic mineral products; petroleum and coal products; paper products; and plastics and rubber products.