United States PMI December 2021

United States

United States: ISM manufacturing index dips in December

January 4, 2022

The Institute for Supply Management (ISM) manufacturing index decreased to 58.7 in December from 61.1 in November. Consequently, the index remained above the 50-threshold but signaled a slightly weaker improvement in manufacturing activity over the previous month.

December’s marginally softer expansion was predominately driven by lower new orders and production growth relative to the previous month. That said, employment levels rose at a quicker rate in December. Meanwhile, price pressures eased notably in December due to lower prices for crude oil and natural gas, but remained elevated nonetheless.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 4.0% in 2022, which is unchanged from last month’s forecast. In 2023, panelists see industrial production rising 2.4%.

Author:, Economist

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United States PMI Chart

United States PMI December 2021

Note: Composite index in the Manufacturing Report on Business (PMI). Readings above 50% indicate an expansion in the manufacturing sector while readings below 50% point to a contraction.
Source: Institute for Supply Management.

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