Economic activity in the US manufacturing sector grew in December, with the overall economy achieving a 19th consecutive month of growth, according to the latest Manufacturing ISM Report On Business.
The December Manufacturing PMI registered 58.7 percent, a decrease of 2.4 percentage points from the November reading of 61.1 percent. This figure indicates expansion in the overall economy for the 19th month in a row after a contraction in April 2020. Index breakdown:
Index | December level | November level |
New Orders | 60.4 | 61.5 |
Production | 59.2 | 61.5 |
Backlog of Orders | 62.8 | 61.9 |
Employment | 54.2 | 53.3 |
Supplier Deliveries | 64.9 | 72.2 |
Inventories | 54.7 | 56.8 |
Prices | 68.2 | 82.4 |
New Export Orders | 53.6 | 54 |
Imports | 53.8 | 52.6 |
The 15 manufacturing industries reporting growth in December, in the following order, are: apparel, leather and allied products; furniture and related products; textile mills; plastics and rubber products; machinery; nonmetallic mineral products; miscellaneous manufacturing; chemical products; electrical equipment, appliances and components; fabricated metal products; computer and electronic products; food, beverage and tobacco products; transportation equipment; primary metals; and petroleum and coal products.
The three industries reporting a decrease in December compared to November are: wood products; printing and related support activities; and paper products.