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Manufacturing slows again in December

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Manufacturing slows again in December

Expansion continues, but at a slower rate, according to ISM report.

Economic activity in the manufacturing sector expanded in December for the 19th consecutive month, but the pace of expansion slowed in December, according to a closely watched survey of the nation’s supply executives undertaken by The Institute for Supply Management.  This follows a slight decrease in November.

"The December PMI came in at  55.5%, a decrease of 3.2 percentage points from November."

The December PMI came in at 55.5%, a decrease of 3.2 percentage points from November, indicating continued but slower expansion in manufacturing. Analysts had expected a decrease to 57.6%.

The New Orders Index registered 57.3%, a decrease of 8.7 percentage points from the reading of 66% in November, while the Production Index registered 58.8%, 5.6 percentage points below November’s 64.4%.

Employment continued to gain strength, with the Employment Index showing a 1.9 percentage point increase to 56.8%.

Inflation remained in check as well, with the Prices Index falling 6 percentage points to 38.5%, indicating lower raw materials prices in December relative to November.

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