"The seasonally adjusted IHS Markit final U.S. Manufacturing Purchasing Managers’ Index posted 53.8 in December, down from 55.3 in November," the IHS Markit reported today and added: "The headline PMI dipped to a 15-month low amid a weaker rise in new business and the joint-softest expansion in output since September 2017."
Key takeaways from the press release
- Production growth remained solid in December, and at a rate that matched that seen in November.
- Following a slight pick up in November, new order growth eased in December.
- The degree of optimism was strong, but well below the long-run series average.
- Despite a moderate rise in backlogs in December, the rate of job creation softened to an 18-month low.
- Rates of both input price and output charge inflation eased in December.
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