Economic activity in the US manufacturing sector contracted in December, and the overall economy grew for the 128th consecutive month, according to the latest Manufacturing ISM Report On Business.
The December PMI registered 47.2 percent, a decrease of 0.9 percentage point from the November reading of 48.1 percent. This is the PMI's lowest reading since June 2009, when it registered 46.3 percent.
The New Orders Index registered 46.8 percent, a decrease of 0.4 percentage point from the November reading of 47.2 percent.
The Production Index registered 43.2 percent, down 5.9 percentage points compared to the November reading of 49.1 percent.
The Backlog of Orders Index registered 43.3 percent, up 0.3 percentage point compared to the November reading of 43 percent.
The Employment Index registered 45.1 percent, a 1.5-percentage point decrease from the November reading of 46.6 percent.
The Supplier Deliveries Index registered 54.6 percent, a 2.6-percentage point increase from the November reading of 52 percent.
The Inventories Index registered 46.5 percent, an increase of 1 percentage point from the November reading of 45.5 percent.
The Prices Index registered 51.7 percent, a 5-percentage point increase from the November reading of 46.7 percent.
The New Export Orders Index registered 47.3 percent, a 0.6-percentage point decrease from the November reading of 47.9 percent.
The Imports Index registered 48.8 percent, a 0.5-percentage point increase from the November reading of 48.3 percent.
Of the 18 manufacturing industries, three reported growth in December: food, beverage and tobacco products; miscellaneous manufacturing; and computer and electronic products.
The 15 industries reporting contraction in December — listed in order — are: apparel, leather and allied products; wood products; printing and related support activities; furniture and related products; transportation equipment; nonmetallic mineral products; paper products; fabricated metal products; petroleum and coal products; electrical equipment, appliances and components; textile mills; primary metals; chemical products; plastics and rubber products; and machinery.