Economic activity in the US manufacturing sector contracted in December for the second consecutive month following a 29-month period of growth, according to the latest Manufacturing ISM Report On Business.
The December Manufacturing PMI registered 48.4 percent, 0.6 percentage point lower than the 49 percent recorded in November. Regarding the overall economy, this figure indicates contraction after 30 straight months of expansion. The Manufacturing PMI figure is the lowest since May 2020, when it registered 43.5 percent. Index breakdown:
| Index | December level | November level |
| New Orders | 45.2 | 47.2 |
| Production | 48.5 | 51.5 |
| Prices | 39.4 | 43 |
| Backlog of Orders | 41.4 | 40 |
| Employment | 51.4 | 48.4 |
| Supplier Deliveries | 45.1 | 47.2 |
| Inventories | 51.8 | 50.9 |
| New Export Orders | 46.2 | 48.4 |
| Imports | 45.1 | 46.6 |
The two manufacturing industries that reported growth in December are: primary metals; and petroleum and coal products.
The 13 industries reporting contraction in December, in the following order, are: wood products; fabricated metal products; chemical products; paper products; plastics and rubber products; electrical equipment, appliances and components; furniture and related products; apparel, leather and allied products; computer and electronic products; machinery; food, beverage and tobacco products; transportation equipment; and miscellaneous manufacturing.