The Institute for Supply Management’s manufacturing survey hit 57.
Expectations were for a decline to 56.8, from November’s reading of 57.3.
We just got a solid reading from Markit’s PMI measure of U.S. manufacturing, so let’s see if we can keep the momentum going.
(Tempe, Arizona) — Economic activity in the manufacturing sector expanded in December for the seventh consecutive month, and theoverall economy grew for the 55th 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 57 per cent, the second highest reading for the year, just 0.3 percentage point below November’s reading of 57.3 per cent. The New Orders Index increased in December by 0.6 percentage point to 64.2 per cent, which is its highest reading since April 2010 when it registered 65.1 per cent. The Employment Index registered 56.9 per cent, an increase of 0.4 percentage point compared to November’s reading of 56.5 per cent. December’s employment reading is the highest since June 2011 when the Employment Index registered 59 per cent. Comments from the panel generally reflect a solid final month of the year, capping off the second half of 2013, which was characterised by continuous growth and momentum in manufacturing.”
Of the 18 manufacturing industries, 13 are reporting growth in December in the following order: Furniture & Related Products; Plastics & Rubber Products; Textile Mills; Apparel, Leather & Allied Products; Computer & Electronic Products; Paper Products; Transportation Equipment; Primary Metals; Fabricated Metal Products; Wood Products; Printing & Related Support Activities; Food, Beverage & Tobacco Products; and Miscellaneous Manufacturing. The four industries reporting contraction in December are: Nonmetallic Mineral Products; Machinery; Chemical Products; and Electrical Equipment, Appliances & Components.
WHAT RESPONDENTS ARE SAYING …