Jan. 4, 2017

Manufacturing Expands in December

December’s PMI rose to 54.7 points, up 1.5 percentage points, indicating expansion of the manufacturing sector for the fourth straight month, reports the Institute for Supply Management, Tempe, Ariz. A reading above 50 percent indicates growth.

Purchasing managers in 11 of the 18 manufacturing industries surveyed reported growth in December, including fabricated metals, primary metals, appliances and components, machinery and miscellaneous manufacturing. Transportation equipment was among the six industries reporting contraction.

Other key indices also reported growth in December. ISM’s New Orders Index jumped 7.2 percentage points to 60.2 percent, the Production Index increased 4.3 percentage points to 60.3 percent and the Employment Index was up 0.8 of a point to 53.1 percent.

If annualized, the December PMI corresponds to a 3.6 percent increase in real GDP. The full-year average PMI of 51.5 percent corresponds to a 2.6 percent increase in GDP, ISM reports. 


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Sunday, October 22, 2017