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The ISM Manufacturing index report is out and it’s a slight beat.Click Here For Updates >
The headline number climbed to 50.7 from 49.5 in Novemer. This was higher than the 50.4 economistswere looking for.
A reading above 50 signals expansion.
Earlier this morning, Markit US PMI surprised to the upside, coming in at 54.0, up from 52.8 a month ago.
From the ISM:
(Tempe, Arizona) — Economic activity in the manufacturing sector expanded in December, following one month of contraction, and the overall economy grew for the 43rd consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.
The report was issued today by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management™ Manufacturing Business Survey Committee. “The PMI™ registered 50.7 per cent, an increase of 1.2 percentage points from November’s reading of 49.5 per cent, indicating expansion in manufacturing for only the third time in the last seven months. This month’s PMI™ reading moved manufacturing off its low point for 2012 in November. The New Orders Index remained at 50.3 per cent, the same rate as in November, indicating growth in new orders for the fourth consecutive month. The Production Index registered 52.6 per cent, a decrease of 1.1 percentage points, indicating growth in production for the third consecutive month. The Employment Index registered 52.7 per cent, an increase of 4.3 percentage points, indicating a resumption of growth in employment following only one month of contraction since September 2009. Both the Exports and Imports Indexes registered 51.5 per cent, returning both indexes to growth territory following consecutive periods of contraction of six and four months, respectively. Comments from the panel this month are mixed, with some indicating a strengthening of demand and others indicating a continuing softness in demand. Additionally, many respondents express uncertainty about government regulations, taxes and global economics in general as we approach 2013.”