United States: ISM manufacturing index dips in December
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.