US manufacturing PMI rises to 60.7 percent in December

Tuesday, 05 January 2021 20:56:38 (GMT+3)   |   San Diego

Economic activity in the US manufacturing sector grew in December, with the overall economy notching an eighth consecutive month of growth, according to the latest Manufacturing ISM Report On Business.

The December Manufacturing PMI registered 60.7 percent, up 3.2 percentage points from the November reading of 57.5 percent. This figure indicates expansion in the overall economy for the eighth month in a row after contracting in March, April, and May, which ended a period of 131 consecutive months of growth. Index breakdown:

Index December level November level
New Orders 67.9 65.1
Production 64.8 60.8
Backlog of Orders 59.1 56.9
Employment 51.5 48.4
Supplier Deliveries 67.6 61.7
Inventories 51.6 51.2
Prices 77.6 65.4
New Export Orders 57.5 57.8
Imports 54.6 55.1

Of the 18 manufacturing industries, 16 reported growth in December, in the following order: apparel, leather and allied products; furniture and related products; wood products; fabricated metal products; machinery; computer and electronic products; transportation equipment; plastics and rubber products; paper products; chemical products; petroleum and coal products; primary metals; textile mills; electrical equipment, appliances and components; food, beverage and tobacco products; and miscellaneous manufacturing.

The two industries reporting contraction in December are: printing and related support activities; and nonmetallic mineral products.

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