The manufacturing sector contracted in December for the ninth consecutive month and the 25th time in the past 26 months, according to the Manufacturing ISM Report on Business. The report was issued by the Institute for Supply Management (ISM) Manufacturing Business Survey Committee.
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The Manufacturing Purchasing Managers Index (PMI) was 49.3%, 0.9 percentage point higher than November’s figure.
Here’s the breakdown of the December PMI:
- The New Orders Index rose by 2.1 percentage points, from 50.4% to 52.5%, the second month of expansion after seven months of contraction.
- The Production Index registered 50.3%, up 3.5 percentage points from 46.8%.
- The Prices Index was 52.5%, an increase of 2.2 percentage points from November’s figure of 50.3%.
- The Backlog of Orders Index registered 45.9%, up 4.1 percentage points from November’s reading of 41.8%.
- The Employment Index registered 45.3%, down 2.8 percentage points from November’s figure of 48.1%.
- The Supplier Deliveries Index was 50.1%, 1.4 percentage points higher than the November reading of 48.7%.
- The Inventories Index was up 0.3 percentage points, from 48.1% in November to 48.4%.
- The New Export Orders Index registered 50.0%, a 1.3 percentage point increase from November’s figure of 48.7%.
- The Imports Index was 49.7%, up 2.1 percentage points from the November reading of 47.6%.
Seven manufacturing industries reported growth:
- Primary Metals
- Electrical Equipment, Appliances & Components
- Wood Products
- Furniture & Related Products
- Paper Products
- Miscellaneous Manufacturing
- Plastics & Rubber Products
The seven industries reporting contraction in December were:
- Textile Mills
- Fabricated Metal Products
- Printing & Related Support Activities
- Machinery
- Chemical Products
- Transportation Equipment
- Nonmetallic Mineral Products
